Vu Quang Hai resigns from Sabeco
after public opposition
Ministry of Industry and Trade confirmed that former minister Vu Huy Hoang's
son, Vu Quang Hai resigned from Saigon Alcohol Beer and Beverages Corporation
(Sabeco)'s management board on December 21.
resignation will be accepted in accordance with the regulations.
ministry is also carrying out the Central Inspection Committee’s punishments
for officials involved in the promotion of Vu Quang Hai.
August, the head of Vietnam Association of Financial Investors Nguyen Dinh
Cung sent a letter to the Ministry of Industry and Trade, urging the ministry
to inspect the appointment of former minister’s son, Vu Quang Hai, as deputy
CEO of Sabeco in early 2015.
the promotion Hai was the general director of PetroVietnam Finance Investment
JSC. Between 2011 and 2012, under Hai’s management, the company racked up
losses of VND220 billion (USD10 million) compared to registered capital of
branded the ministry "shameless" after it claimed the promotion of
former minister's son had followed all procedures.