Thứ Hai, 26 tháng 12, 2016

Vu Quang Hai resigns from Sabeco after public opposition

The 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.
Hai's resignation will be accepted in accordance with the regulations.
The ministry is also carrying out the Central Inspection Committee’s punishments for officials involved in the promotion of Vu Quang Hai.

Vu Quang Hai

In 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.
Before 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 USD13.5 million.
Cung branded the ministry "shameless" after it claimed the promotion of former minister's son had followed all procedures. 

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