The Ministry of Public Security’s Police Investigation Authority completed its investigation relating to the land plot at 2-4-6 Hai Ba Trung Street in HCM City on July 13 and transferred the case to the Supreme People’s Procuracy.
Former Minister of Industry and Trade Vu Huy Hoang
The case involves former Minister of Industry and Trade Vu Huy Hoang and former Director of the Ministry of Industry and Trade (MoIT)’s Light Industry Department Phan Chi Dung, who have been charged with violating regulations on the management and use of State assets, causing losses and wastefulness.
Former Vice Chairman of the HCM City People’s Committee Nguyen Huu Tin and seven accomplices were accused of violating regulations on land management.
Former Deputy Minister of Industry and Trade Ho Thi Kim Thoa, who has fled, is now wanted for her involvement in the case.
According to investigators, Hoang knew that the land plot of 6,000 square metres at 2-4-6 Hai Ba Trung Street in downtown District 1 was to be assigned to Vietnam’s largest brewery, Sabeco, under MoIT, for the construction of a six-star hotel and trade and convention centre.
While Hoang knew that Sabeco was not permitted to establish a new entity to use the land allotted to it, he still instructed the State Capital Management Board at Sabeco to establish the Sabeco Pearl Company.
Based on Hoang’s approval and Thoa’s direction, Phan Dang Tuat, Chairman and Head of the State Capital Management Board at Sabeco, signed a document submitted to the HCM City People’s Committee requesting approval for Sabeco Pearl to be the owner of the project.
He also asked city authorities to let Sabeco transfer its land use rights to the newly-formed joint venture.
Based on this, departments and agencies under the HCM City People’s Committee recommended Nguyen Huu Tin to sign a decision allowing Sabeco Pearl to lease the land in violation of regulations.
Hoang himself also directed Sabeco to speed up divestment of capital in Sabeco Pearl and approved the auction price for Sabeco’s stake at VND13,247 per share.
These illegal actions resulted in the land becoming private property, causing especially big losses to the State budget.
As Thoa has fled and the investigation’s timeframe has expired, police have decided to suspend the investigation against her until she is arrested.