Finally, the Central Inspection Commission of the Communist Party of Vietnam (CPV)’s Central Committee also proposed to exclude Ms. Ho Thi Kim Thoa from the party for her mistakes in the management and use of the land parcels in Hai Ba Trung street, District 1, HCM City.
About four months ago, the Ministry of Public Security announced a decision to probe Ms. Ho Thi Kim Thoa, former Deputy Minister of Industry and Trade for converting the right to use 6,000 square meters of land in the center of Ho Chi Minh City, causing damage to the state budget of about a few thousand billions. However, the decision to probing just mentioned was announced at the same time as the decision … to suspend the investigation of Ho Thi Kim Thoa because she … went abroad and the Ministry of Public Security did not know where she was. The police also issued a search warrant!
Ms. Thoa is a living example that illustrates the face of the socialist-oriented market economy. With a socialist-oriented market economy, there are countless individuals like Ms. Thoa …
Until now, no one knows what the result of her search warrant (?), But suppose that the police of some countries agree to arrest Ms. Thoa at the request of Vietnam’s Ministry of Public Security and handing her over to Vietnam for trial, her family is still the owner of Dien Quang Lamp Company (DQC) and Rang Dong Plastic Company (RDP) – two state-owned enterprises have been transferred to her and her relatives.
The political system, the Vietnamese public administration system has never wondered why Ms. Thoa and her relatives have trillions of dong to acquire shares of DQC and RDP. For the party, the fact that party members like Ms. Thoa are unusually rich, so in 2017, the party just … warned Ms. Thoa because she was involved in the extraordinary promotion of Trinh Xuan Thanh.
Maybe because Ms. Thoa knows things, proactively resigns (3), the party actively ignores all the previously discovered mistakes such as: Violating everything in DQC valuation for privatization, transfer of DQC’s shares, arbitrarily transfer 4,000 square meters of land in District 4, Ho Chi Minh City (4) …
Three years later, from the problem of dealing with violations in the public management of some officials in Ho Chi Minh City, the Ministry of Public Security found that punishment was not taken equally against state officials so it determined to investigate the responsibility of Ms. Thoa, she settled abroad, rebuilt her career with assets squeezed from sweat, tears, even blood and bones of healthy people from her party … serve them.
By now, everyone can see that, if there is no socialist-oriented market economy, there will be no situation of pumping all national resources to state-owned corporations and corporations (collectively as a state-owned enterprise) and of course there will be no “megaprojects“, the private enterprise system in Vietnam is not treated like a bastard, not depleted, without mass bankruptcy, the economy is less more and more tragic.
Because of the socialist orientation of the market economy, there are events like, in November 2016, the Ministry of Industry and Trade officially admitted that only the five “great projects” of this ministry had turned VND30 trillion ($1.28 billion) into… trash. By May 2017, the Ministry of Industry and Trade announced seven more “great projects” that are also ineffective, both causing capital loss and increasing debt but did not give more details …
A few months later, when discussing with the National Assembly about the economic, social, and budget situation in 2017, Mr. Ho Duc Phoc, State Auditor General, revealed, the number of state-owned enterprises working in losses is over 40. However, Mr. Phoc did not add that the total amount has been turned into rubbish and the total amount of debt left by these “more than 40 great projects” (5)!
Thanks to the socialist-oriented market economy, about VND63.61 trillion were assigned to state-owned enterprises. This huge wealth of assets is not only not profitable but also creates a few tens of trillion in debt.
While the entire people are engrossed in cleaning up the huge “trash” created by SOEs, many officials hold the responsibility of drafting – issuing policies related to the market economy according to socialist orientation and supervise the implementation of the guidelines, the governance and administration of SOEs to build a socialist-oriented market economy that collects gold, foreign currency, and is so rich that it “cracks up and falls apart.”
Because of this fact, individuals who advocate building a socialist-oriented market economy decide to change direction, dissolve – and equitize SOEs, but resources and assets still flow like a waterfall into the pockets of the state. Party members are loyal to the socialist-oriented market economy, making them and their families the new owners of SOEs.
Two months after the Ministry of Public Security issued an arrest warrant for Ms. Thoa, Pham Phu Quoc scandal, National Assembly member, General Director of Tan Thuan Industrial Development Company (IPC) spent $2.5 million to get Cyprus citizenship.
It is just one of the latest examples of the socialist-oriented market economy depriving Vietnamese all. Having removed the position of IPC’s General Director, stripped Mr. Quoc’s status as a National Assembly member, the public, real estate, public funds assigned to him to develop SOEs, build a market economy according to socialist orientation were also transferred into his asset so he can invest elsewhere!
The socialist-oriented market economy has also been moving from a staunch period to stealing public assets in SOEs to a coordinated stage of robbery-robbery by privatization – equitization …
Even when SOEs are out of … sacred, difficult to convince comrades, people to trust, efforts to build a market economy according to socialist orientation, the Politburo, the Central Committee of the Party do not hesitate to set up an economic model bodies, cooperatives (cooperatives). Last March, Mr. Tran Quoc Vuong, on behalf of the Politburo, issued a Conclusion on continuing to innovate, develop and improve the collective economic efficiency so that the market economy has a socialist color.
In the conclusion just mentioned, the Politburo determined that collective economic development is an inevitable trend, a task of the entire political system and will issue a … new resolution on collective economic development replacing the old resolution (7).
Will the new resolution pave the way for a new wave of robbery? Definitely. The conclusion that Ho Chi Minh City Inspector announced in July, affirms that the decision of the Ho Chi Minh City Trade Cooperatives Union (Saigon Co.op) to increase its charter capital in 2020 shows signs of acquisition and appropriation of capital of Saigon Co.op’s assets, infringing on both state ownership and joint ownership in Saigon Co.op (8).
Although the Ho Chi Minh City Inspector determined, the increase in the charter capital of Saigon Co-op 2020 showed criminal signs, but instead of transferring the file to the police to conduct an investigation, last month, the Organizing Committee of the City Party Committee in Ho Chi Minh City decided to send Mr. Diep Dung, member of the Board of Directors cum chairman of the Board of Directors of Saigon Co.op to work at the Party Committee of State Finance Investment Company of Ho Chi Minh City (9)!
In the market economy without a socialist orientation, the party has no reason to put on the communist coat and hold a comprehensive leadership power in the country. If there is a socialist orientation, just sit there and watch state and party officials robbing the country’s assets.