Market Newsletter on 10/6/2023

Many automobile industry groups seek out Quang Ninh to open factories

In the first 5 months of the year, Quang Ninh’s industrial zones and economic zones (except Van Don economic zone) attracted more than 500 million USD in foreign direct investment (FDI). Particularly, 4 investment projects in the auxiliary field of the auto industry accounted for 76% of the total attracted FDI (US$384.3 million).

Typically, the project of Autoliv Vietnam Co., Ltd (Sweden) in Song Khoai Industrial Park with investment capital of 154 million USD, produces safety products for cars and other motor vehicles for export.

Also in Song Khoai Industrial Park, there is also a project of Samsong Vina Co., Ltd. (Korea), with an investment of nearly 10.3 million USD, manufacturing seat belts used in the automotive industry and producing locking bolts. steel of seat belt.

Bac Tien Phong Industrial Park also attracted 2 auxiliary projects for the auto industry.

In particular, the project of Boltun Vietnam (Taiwan) specializing in the production of latches and stamping products, has a total investment of 165 million USD, with a total design capacity of 60,000 tons of products/year.

The other project is the intelligent light-alloy rims factory of Xiamen Sunrise Group Co., Ltd., with an investment of 55 million USD, specializing in the production of car rims, with a designed capacity of 2.5 million USD. product/year.

Recently, the leadership team of Mitsubishi Corporation also went to Quang Ninh to research and invest in a number of fields such as information technology, energy, especially auxiliary factories for the manufacturing industry. export cars, motorbikes…

With the careful preparation of human resources, traffic infrastructure, industrial park infrastructure, clean land fund, and open investment environment, Quang Ninh hopes to soon form a center for automobile production and supporting industries. support and gather major domestic and international brands.

The case at the Dong Nai Department of Science and Technology: The director of the department fled, the deputy director was prosecuted

In which, two defendants were prosecuted for violating regulations on management and use of state assets, causing losses and waste, namely Nguyen Quang Tuan (43 years old, former director of the Center for Biotechnology Application). Dong Nai) and Nguyen Hong Dang Khoa (42 years old, former Director of Nguyen Dynasty Company, cum Director of Tri Nguyen Hi-tech Agriculture Co., Ltd).

Three defendants Nguyen Ngoc Phuong (50 years old, former deputy director of the Department of Science and Technology); Le Thi An Nhien (41 years old, former Deputy Director of Dong Nai Biotechnology Application Center) and Tran Thi Huynh Huong (45 years old, former Head of Planning and Finance Department, Department of Science and Technology) were prosecuted. for the crime of irresponsibility causing serious consequences.

According to the indictment, in 2008, Dong Nai Provincial People’s Committee established Dong Nai Biotechnology Application Center and appointed Nguyen Quang Tuan as Director, Le Thi An Nhien as Deputy Director.

The process of preparing documents, explanatory reports, economic and technical reports and implementing the project Replication of vegetable and fruit production models in greenhouses according to VietGAP standards and the project of Agricultural greenhouses, equipment can Nguyen Quang Tuan, Nguyen Hong Dang Khoa and some other individuals have made many mistakes in the management and use of state property; failure to properly perform their assigned responsibilities and tasks, causing particularly serious damage to the state budget with a total amount of more than 28 billion VND.

This is a Science and Technology project approved by the Provincial People’s Committee in 2015, implemented in Xuan Duong Commune (Cam My District) and assigned responsibility to Mr. Pham Van Sang (former Director of Dong Nai Department of Science and Technology, currently absconded) organizing and managing implementation with a total cost of nearly 87 billion VND. In which, the state budget is more than 16 billion VND and other funding is nearly 71 billion VND (invested by Tri Nguyen Company).

During the implementation process, between Mr. Pham Van Sang and the defendants Nguyen Quang Tuan and Nguyen Hong Dang Khoa, there was an oral agreement on cooperation between Dong Nai Biotechnology Application Center and Tri Nguyen Company (made by Dong Nai Biotechnology Application Center). Khoa contributed VND 17.5 billion and Mrs. Nguyen Thi Xuan, Mr. Sang’s wife contributed VND 12.5 billion.

Dong Nai Biotechnology Application Center contributes capital with a block of membrane houses, while Tri Nguyen Company contributes rented land to implement the project. Therefore, Mr. Sang and the defendants Tuan and Khoa intentionally erected 3 blocks of membrane houses against the regulations.

After the acceptance test and completion of the project, these 3 blocks of membrane houses were occupied by Khoa to serve production and business activities of Tri Nguyen Company, causing damage to state property more than 14 billion VND.

Similarly, in 2015, the Provincial People’s Committee approved the agricultural membrane project with a total investment of 14.5 billion VND in Xuan Duong commune. With the same method, Mr. Sang and the defendants Tuan and Khoa together built 2 blocks of membrane houses in the Agricultural Membrane project and let Tri Nguyen Company appropriate it, causing damage to state property of nearly 14 billion VND. copper.

The Government Inspectorate points out a series of violations in the equitization of the Water Transport Corporation

Score series of violations

In conclusion, the Government Inspectorate (TTCP) proposed the Ministry of Public Security and the Supreme People’s Procuracy to receive the dossiers of two cases of violations causing waste and loss of large amounts of money for investigation and handling according to law. provisions of law. Including: equitization of assets formed from the use of WB6 capital (Viet Tri port, Ninh Phuc port) with a total investment value of nearly 135 billion dong and the determination of enterprise value to share. equitization, divestment, loss of state capital at Hanoi port with an amount of over 16 billion VND in the process of VIVASO equitization.

The inspection agency pointed out that, for the inventory of Viet Tri port (Phu Tho), Ninh Phuc port (Ninh Binh), the Ministry of Transport has approved the transportation development project in the Northern Delta but not there is a plan for compensation for site clearance, and a plan for exploitation and use of the project.

In addition, the Vietnam Auditing Partnership Company and the Water Transport Corporation carried out an inventory and classification of assets that lacked the list of Viet Tri ports and Ninh Phuc ports (WB6 project) and had not completely handled the assets. property for land use rights.

Notably, it is not possible to simultaneously equitize VIVASO and Inland Waterway Transport and Handling One Member Company Limited with the investment in upgrading Viet Tri and Ninh Phuc ports with WB6 capital. The Equitization Steering Committee, the Ministry of Transport submitted to the Prime Minister for approval the equitization plan, but “lack of responsibility, did not detect or deliberately did not report to the Prime Minister” about the above.

After equitization, VIVASO, without permission from the competent authority, arbitrarily exploited and used a part of Viet Tri port and Ninh Phuc port (in the period 2015-2020), violating the Law on Construction “need to be approved by the competent authority.” competent authorities consider, handle and collect the profits earned into the state budget”.

Regarding the water area in front of the port, the Vietnam Auditing Partnership and VIVASO did not include the current situation of the water in front of the port managed and used by VIVASO with an area of ​​357,000m2 in the Information Disclosure and the equitization plan. is a violation, leading to the result that the equitization plan is inaccurate; VIVASO did not prepare a dossier of application for water surface rental to the competent agency, leading to loss of state water surface fee which needs to be considered and calculated arrears.

Selling state shares in the wrong order

TTCP also pointed out that the Vietnam Auditing Partnership Company has determined the value of a number of properties, which are buildings and structures of Hanoi port and Viet Tri port, in which an inadequate slippage coefficient is applied. is not determined according to the prescribed investment capital rate, reducing the value of state capital in enterprises when determining the value of enterprises for equitization with an amount of more than 21 billion VND compared to the value approved by the Ministry of Transport.

Determining the value of some assets such as wharfs and berths in Hanoi and Viet Tri ports is wrong with the conversion index, reducing the value of state capital in the enterprise when determining the value of the enterprise for equitization. with an amount of more than 1 billion VND compared to the value of the Ministry of Transport is a violation.

For the implementation of the plan of equitization and transformation of the enterprise into a joint stock company, the Ministry of Transport decided to transfer 14,725141 shares issued for the first time in the form of direct agreement with the transfer price equal to the auction price. The average of the initial issuance for Van Cuong Construction Joint Stock Company who is not an investor participating in the initial auction is not in accordance with regulations.

VIVASO did not report to the Ministry of Transport to clarify the causes and responsibilities of collectives and individuals as well as the handling of relevant officials regarding the reduction of state capital and the reduction of charter capital of the Water Transport Company – JSC with the the amount of more than 21 billion dong, equivalent to 6.57% of charter capital, not in accordance with the Government’s regulations.

VIVASO’s Board of Directors sold 6,554,740 state shares in the Corporation to Van Cuong Construction Union Company before taking steps to select a consulting organization to advise on divestment plans and publicize the offering of shares. part is not chronologically correct.

TTCP proposes to assign the Ministry of Transport to assume the prime responsibility for, and coordinate with the Ministry of Finance in, proposing a plan to recover the state budget in the amount of VND 50,325 billion, which is the enterprise value of VIVASO that has not been determined according to regulations. clarify the cause and responsibility for the loss of 13,825 billion VND of Inland Waterway Transport and Handling One Member Limited Liability Company to handle in accordance with the law.

TTCP Proposing the Prime Minister to direct the Ministry of Transport; The Ministry of Finance shall consider and handle the responsibilities of individuals and organizations related to defects and violations in formulating the equitization plan, determining the enterprise value to equitize the results and inspection conclusions.