The VTP/SCB Fallout Continues
The VTP/SCB Fallout Continues
Plus a curious National Assembly arrest
Good afternoon, and hello to all new readers! Welcome to the latest edition of the Vietnam Weekly, written by Ho Chi Minh City-based reporter Mike Tatarski. Today’s edition is exclusively for paying subscribers - if you haven’t already, you can upgrade to receive all future subscriber-only articles and access all past posts (dating back to mid-2018) for US$5/month or US$50/year.
A correction: in last Friday’s newsletter, I cited a domestic media report stating that Intel planned to spend US$1 billion to expand its plant in HCMC. That figure then vanished from the article, and there has been no official confirmation that Intel will expand.
On to the news.
Today’s newsletter is all about the anti-corruption campaign, which continues to evolve in fascinating directions and has been one of the biggest stories in Vietnam.
It won’t stop anytime soon, either - last week, General Secretary Nguyễn Phú Trọng said "We need to conduct the anti-corruption fight faster in a more efficient manner. We won't stop here, but will continue for the long term.”
In that context, it’s no surprise that crimes related to corruption and abuse of power have increased by over 50% in 2023 compared to last year.
Topics below include:
The enormity of the Vạn Thịnh Phát scandal
Yet more property fraud
A head-scratching National Assembly arrest
An expanding EVN investigation?
The fallout of last week’s jaw-dropping VTP announcements continues to reverberate here, while it has attracted almost no coverage internationally.
Last week, during the ongoing National Assembly session, a delegate from Đồng Tháp Province said the US$5.2 million cash bribe given to Đỗ Thị Nhàn may be the largest in Vietnamese history, while also noting that this case “is just the tip of the iceberg.”
Indeed, if the word on the street is to be believed, some very high-profile arrests may be forthcoming.