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Government Inspectorate detects violations in Vinacomin

The Government Inspectorate has issued Notice No.84/TB-TTCP on the inspection of law compliance during business operations in the Vietnam National Coal – Mineral Industries Group (Vinacomin) and its affiliates during 2010 – June 30, 2015.

The inspection found that the Members’ Council and the General Director of Vinacomin in the period violated financial and investment regulations, leading to huge losses.

They also failed to abide by regulations on production and trade, resulting in higher production costs and reduced the group’s profits and its contribution to the State budget.

Violations were also found in construction, use of land and natural resources, procurement, asset management, equitisation and divestment.

The Government Inspectorate requested that the Ministry of Public Security instructs the investigative agency to deal with the case and investigate legal violations in Vinacomin and its affiliates, including Huu Nghi Cement JSC in the northern province of Phu Tho, Ha Giang Cement JSC and Binh Nguyen – Dak Nong JSC.

The Government Inspectorate said the violations involved over 14.882 trillion VND (661.42 million USD) and nearly 6.7 million sq.m of housing and land, proposing the reclamation of more than 1.8 trillion VND for the State budget and all the housing and land.

The notice informed that Permanent Deputy Prime Minister Truong Hoa Binh had basically agreed with the Government Inspectorate’s proposals and asked ministries, agencies and localities to take relevant action.

The ministries of Natural Resources and Environment, Public Security, Industry and Trade, Justice, Construction and the Government Office were assigned to work closely with the Government Inspectorate to deal with the case.