Latest news with #HoangQuocVuong
Free Malaysia Today
08-05-2025
- Business
- Free Malaysia Today
Vietnam jails former minister over solar energy pricing scheme
The former deputy minister of trade and industry chaired state-owned Electricity of Vietnam between 2012 and 2015. (EPA Images pic) HANOI : A court in Vietnam jailed a former deputy minister of industry and trade for six years on Tuesday after finding him guilty of 'power abuse' in a solar energy development plan. The Southeast Asian country has committed to reaching net zero carbon emissions by 2050 and is trying to increase wind and solar production to meet soaring demand. Hoang Quoc Vuong, 62, admitted taking a US$57,600 bribe to favour solar power plants in southern Ninh Thuan province with special pricing when they sold power to the national electricity company. Vuong was the deputy minister of trade and industry between 2015 and 2020 and chaired state-owned Electricity of Vietnam (EVN) between 2012 and 2015. According to the verdict, EVN spent almost US$154 million (4,000 billion dong) to buy solar power from three solar power plants in Ninh Thuan province between 2018 and 2020, causing a loss of more than US$40 million to the state budget. Vuong admitted to the court that he received a bribe but his family had paid the amount back. 'I think during my public work performance, I had done things wrong, causing losses. So, I take responsibility in paying the amount back to the state,' Vuong told the court. Vuong said in his final words before the court that his 'wrongdoings were painful lessons, erasing my contributions (to the state) in various positions'. Eleven other energy and tax officials involved in the case were also put on trial. They were given punishments that ranged from suspended sentences of three years to six years in jail for abuse of power and lack of responsibilities. The court in Hanoi also ordered three power plants that benefited from the power sales to EVN to pay the US$40 million of losses back to the state-owned group.
Malay Mail
29-04-2025
- Business
- Malay Mail
Vietnam jails ex-minister for taking bribes in solar energy pricing scandal
HANOI, April 29 — A court in Vietnam jailed a former deputy minister of industry and trade for six years on Tuesday after finding him guilty of 'power abuse' in a solar energy development plan. The South-east Asian country has committed to reaching net-zero carbon emissions by 2050 and is trying to increase wind and solar production to meet soaring demand. Hoang Quoc Vuong, 62, admitted taking a US$57,600 (RM249,000) bribe to favour solar power plants in southern Ninh Thuan province with special pricing when they sold power to the national electricity company. Vuong was deputy minister of trade and industry between 2015 and 2020 and chaired state-owned Electricity of Vietnam (EVN) between 2012 and 2015. According to the verdict, EVN spent almost US$154 million to buy solar power from three solar power plants in Ninh Thuan province between 2018 and 2020, causing a loss of more than US$40 million to the state budget. Vuong admitted to the court that he received a bribe but his family had paid the amount back. 'I think during my public work performance, I had done things wrong, causing losses. So I take responsibility in paying the amount back to the state,' Vuong told the court. Vuong said in his final words before the court that his 'wrongdoings were painful lessons, erasing my contributions (to the state) in various positions'. Eleven other energy and tax officials involved in the case were also put on trial. They were given punishments that ranged from suspended sentences of three years to six years in jail for abuse of power and lack of responsibilities. The court in Hanoi also ordered three power plants that benefited from the power sales to EVN to pay the US$40 million of losses back to the state-owned group. — AFP
New Straits Times
29-04-2025
- Business
- New Straits Times
Vietnam loses US$40mil in solar scam as ex-deputy minister jailed for bribe
HANOI: A court in Vietnam jailed a former deputy minister of industry and trade for six years on Tuesday after finding him guilty of "power abuse" in a solar energy development plan. The Southeast Asian country has committed to reaching net-zero carbon emissions by 2050 and is trying to increase wind and solar production to meet soaring demand. Hoang Quoc Vuong, 62, admitted taking a US$57,600 bribe to favour solar power plants in southern Ninh Thuan province with special pricing when they sold power to the national electricity company. Vuong was deputy minister of trade and industry between 2015 and 2020 and chaired state-owned Electricity of Vietnam (EVN) between 2012 and 2015. According to the verdict, EVN spent almost US$154 million (4,000 billion dong) to buy solar power from three solar power plants in Ninh Thuan province between 2018 and 2020, causing a loss of more than US$40 million to the state budget. Vuong admitted to the court that he received a bribe but his family had paid the amount back. "I think during my public work performance, I had done things wrong, causing losses. So I take responsibility in paying the amount back to the state," Vuong told the court. Vuong said in his final words before the court that his "wrongdoings were painful lessons, erasing my contributions (to the state) in various positions." Eleven other energy and tax officials involved in the case were also put on trial. They were given punishments that ranged from suspended sentences of three years to six years in jail for abuse of power and lack of responsibilities. The court in Hanoi also ordered three power plants that benefited from the power sales to EVN to pay the US$40 million of losses back to the state-owned group. --AFP
CNA
29-04-2025
- Business
- CNA
Vietnam jails former minister over solar energy pricing scheme
HANOI: A court in Vietnam jailed a former deputy minister of industry and trade for six years on Tuesday (Apr 29) after finding him guilty of "power abuse" in a solar energy development plan. The Southeast Asian country has committed to reaching net-zero carbon emissions by 2050 and is trying to increase wind and solar production to meet soaring demand. Hoang Quoc Vuong, 62, admitted taking a US$57,600 bribe to favour solar power plants in southern Ninh Thuan province with special pricing when they sold power to the national electricity company. Vuong was deputy minister of trade and industry between 2015 and 2020 and chaired state-owned Electricity of Vietnam (EVN) between 2012 and 2015. According to the verdict, EVN spent almost US$154 million to buy solar power from three solar power plants in Ninh Thuan province between 2018 and 2020, causing a loss of more than US$40 million to the state budget. Vuong admitted to the court that he received a bribe, but his family had paid the amount back. "I think during my public work performance, I had done things wrong, causing losses. So I take responsibility in paying the amount back to the state," Vuong told the court. Vuong said in his final words before the court that his "wrongdoings were painful lessons, erasing my contributions (to the state) in various positions". Eleven other energy and tax officials involved in the case were also put on trial. They were given punishments that ranged from suspended sentences of three years to six years in jail for abuse of power and lack of responsibilities. The court in Hanoi also ordered three power plants that benefited from the power sales to EVN to pay the US$40 million of losses back to the state-owned group.
Straits Times
29-04-2025
- Business
- Straits Times
Vietnam jails former minister over solar energy pricing scheme
Vietnam is trying to increase wind and solar production to meet soaring demand. PHOTO ILLUSTRATION: UNSPLASH Hanoi - A court in Vietnam jailed a former deputy minister of industry and trade for six years on April 29 after finding him guilty of 'power abuse' in a solar energy development plan. The South-east Asian country has committed to reaching net-zero carbon emissions by 2050 and is trying to increase wind and solar production to meet soaring demand. Hoang Quoc Vuong, 62, admitted taking a US$57,600 (S$75,000) bribe to favour solar power plants in southern Ninh Thuan province with special pricing when they sold power to the national electricity company. Vuong was deputy minister of trade and industry between 2015 and 2020 and chaired state-owned Electricity of Vietnam (EVN) between 2012 and 2015. According to the verdict, EVN spent almost US$154 million to buy solar power from three solar power plants in Ninh Thuan province between 2018 and 2020, causing a loss of more than US$40 million to the state budget. Vuong admitted to the court that he received a bribe but his family had paid the amount back. 'I think during my public work performance, I had done things wrong, causing losses. So I take responsibility in paying the amount back to the state,' he told the court. Vuong said in his final words before the court that his 'wrongdoings were painful lessons, erasing my contributions (to the state) in various positions'. Eleven other energy and tax officials involved in the case were also put on trial. They were given punishments that ranged from suspended sentences of three years to six years in jail for abuse of power and lack of responsibilities. The court in Hanoi also ordered three power plants that benefited from the power sales to EVN to pay the US$40 million of losses back to the state-owned group. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
