Pursuing personal responsibility in 12 notorious trillion-dollar projects

The Deputy Minister of Industry and Trade has just requested corporations and general companies to organize reviews and clarify individual/organizational responsibilities for loss-making and ineffective projects.

News from the Ministry of Industry and Trade said that Deputy Minister Hoang Quoc Vuong recently chaired a meeting of the Ministry of Industry and Trade's Steering Committee to handle existing problems in large, slow-progressing, ineffective projects.

He requested that corporations and general companies review the solutions to handle and resolve existing difficulties of projects/enterprises; from there, propose the most feasible solution to report to the Steering Committee of the Ministry of Industry and Trade. This solution should include recommendations focusing on financial and monetary mechanisms; market solutions; and corporate governance solutions.

Thai Nguyen Iron and Steel Project Phase 2 Expansion "Shelved" for many years. Photo: L.Bang

The leaders of the Ministry of Industry and Trade also directed the Planning Department to preside over and coordinate with the General Departments, Departments, and specialized Departments to prepare a general report on 12 projects to report to the leaders of the Ministry before February 10, 2017. In particular, the report on each specific project includes the main contents, general overview of the project; current difficulties and problems; handling plan and analysis of reasons for proposing the plan; recommendations.

In addition, the Deputy Minister also requested corporations and general companies to organize reviews and clarify individual/organizational responsibilities for the projects.

“When organizing the review, the corporation is requested to invite members of the Internal Affairs Committee - Government Office, General Department, Department, Specialized Department, Personnel Organization Department and Ministry Inspectorate. Complete and report to the Ministry of Industry and Trade within February 2017”, the Deputy Minister of Industry and Trade directed.

The five trillion-dollar projects listed as loss-making and inefficient are the Dinh Vu fiber factory, the Phuong Nam pulp factory project, the Thai Nguyen iron and steel factory phase 2 project, the Dung Quat Bio-Ethanol biofuel factory and the Ninh Binh nitrogenous fertilizer factory.

The 7 new projects added to this list are Ha Bac fertilizer, Lao Cai DAP fertilizer, Hai Phong DAP, Binh Phuoc Ethanol, Phu Tho Ethanol, Dung Quat shipyard, and a joint venture project between Quy Sa mine partner and Lao Cai iron and steel factory.

Of the 12 projects that were “named”, 4 belong to the Vietnam Chemical Group. They are the Ninh Binh fertilizer project, the Ha Bac fertilizer project, the Hai Phong DAP project, and the Lao Cai DAP project.

According to Vietnamnet.vn