AVG acquisition and questions are gradually being clarified

Finally, the Central Inspection Committee has concluded that the individuals and organizations involved in the Mobifone Telecommunications Corporation’s purchase of 95% of AVG Global Audiovisual Corporation’s shares. The doubts and speculations in public opinion for a long time are completely grounded. According to the Party Inspection Agency, the violations of a series of incumbent and retired officials in this case are serious and very serious.

So, what motivates them to do so?

Mobifone was allowed to develop its television service business. That was a golden opportunity, an important legal corridor for this enterprise to break through, possibly bringing in billions of dollars for the state. But that opportunity was missed, was taken advantage of. People “wretched their hearts and minds”, toiled and struggled to buy back a weak television channel. The “impure” motives were exposed in broad daylight.

The quality of the appraisal of the Apparatus in this case is also "a world of doubt". From an enterprise with total assets of more than 3,000 billion VND, payable debt of more than 1,200 billion VND, continuously accumulated losses of thousands of billions for many years, suddenly the price was inflated to more than 16,000 billion VND for a state-owned enterprise to buy back with a total value of more than 8,000 billion VND. The Government Inspectorate concluded that this transaction has the risk of causing damage to state capital of more than 7,000 billion VND. The misvaluation of the real value of tens of thousands of billion VND, easily passing through a series of ministries and branches, was likened by a National Assembly delegate to a trick of "artists" to swap the value of assets, even ready to "bend" the law to serve the purpose of carrying out illegal transfers.

The absurd story behind this acquisition, at that time, everyone in the industry knew, they also understood the "health status" of AVG but the deal still took place in "confidentiality", closed. If the information had been made public, there would have been objections, questions and maybe, there would not have been as severe consequences as today.

Although the AVG deal was canceled, the wrongdoing still occurred. The two sides canceled the contract together and returned the money to the state, which means partially remedying the consequences. That is only a mitigating circumstance. There are immeasurable damages. For example, Mobifone's development opportunity is gone, but if it had been allowed to develop healthily, things would have been different. But the biggest loss is the loss of trust. A series of officials, both former and current Ministers, were implicated. That is a bad image in public opinion, affecting the prestige and honor of the Party and the regime.

But if the incident is not brought to light, the violations are not identified and named, then no one knows where the damage and degeneration will continue to go, where it will spread, just like a tumor that is not removed can metastasize and cannot be cured.

Through this incident, the people see more clearly that the direction of the Secretariat, the Politburo, and directly the head of the Party, General Secretary Nguyen Phu Trong, is very resolute, consistent and persistent, and nothing can shake it. There were certainly obstacles, difficulties and problems in the inspection and examination process, and at times public opinion even thought that the incident "sunk", but in reality, under the extremely resolute, cautious, methodical and strict direction, the violations of groups and individuals were concluded... That is a very vivid result, demonstrating the will, determination, consistency and no forbidden areas in the fight against corruption and negativity.

This is also a rare case where the authorities specifically named the offending officials and held them responsible, unlike many previous cases of property loss. Tens of thousands of billions of dong in corporations and general companies have "evaporated" but it is very difficult to point out the person responsible at a high level. In most previous cases, the money lost was completely lost and could not be recovered, but in this case, the money was recovered according to the contract, overcoming a very basic part of the loss of state money.

The public expects that, after the conclusion of the Central Inspection Committee, the authorities will continue to intervene, handle the right people, the right violations, and the law because, as the Central Committee has assessed, this is a big, serious case that has received a lot of public attention. The biggest question now is what are the specific violations of the individuals, how did the money in this transaction move, and into whose pockets. The investigation agency will have to intervene to clarify, so that the public can truly feel secure./.