Economic crime robs Vietnam of $9.3 bln in 12 years: report

TN News

Email Print

Since a national program against economic crime was launched 12 years ago, more than 152,000 cases of financial malfeasance have caused more than VND177 trillion (US$9.3 billion) in losses to the economy.


But the actual number of economic transgressions is likely to be far higher as the figures represent only those cases uncovered by authorities, Le The Tiem, deputy minister of the Ministry of Public Security, said.


The cases include nearly 18,000 instances of corruption and copyright violations, Tiem told an online conference in Hanoi on Wednesday.


According to the ministry, traditional crimes are becoming more complicated, and new crimes are being imported from foreign countries with advanced equipment and devices.


In separate news on Wednesday, Mai Quoc Binh, deputy chief of the Government Inspectorate, said investigators would launch an inspection into the Lang Hoa Lac Expressway project in Hanoi.


He said they were especially interested in checking for dodgy site clearance and compensation activities.


Work on the 30-kilometer road began ten years ago, but the construction site is still "a mess," Binh said explaining why he was launching the unscheduled inspection.


He said the Inspectorate was interested in finding out what the project's money was being spent on. He said he was also concerned that the project had no completion date attached to it.


Last month the government also announced an investigation into the country's first cars-only expressway, the Ho Chi Minh City Trung Luong Highway, following allegations that the road was built using unsuitable technologies that had wasted hundreds of billions of dong.

More Society News