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Dec 28, 2018 / 12:15

Vietnam discloses US$1.5 billion misused in 2018

Linh Pham

The results have been disclosed after 227,000 inspections at different levels.

Infringements in state entities’ economic management caused losses of VND33.84 trillion (US$1.47 billion) in 2018, the Government Inspectorate (GI)’s statistics showed. 
 
Head of the Government Inspectorate Le Minh Khai. Photo: Thanh Tra
Head of the Government Inspectorate Le Minh Khai. Photo: Thanh Tra
The inspectors have also found out nearly 34,000 hectares of land misused by state agencies and organizations. 

So far, authorized agencies have recuperated VND16.66 trillion (US$724 million) and 345 ha of land. More than 2,000 individuals and organizations have been fined while 151 others have been investigated for alleged legal infractions. 

In Vietnam, recovering misused or stolen assets remain a big challenge to Vietnamese legal enforcement sector. 

Reports from Vietnamese courts showed that the return of money and assets corrupted remains modest, accounting for about 18.4% of the amount needed to be recovered. 
 
Illustrative photo
Illustrative photo
Earlier last month when working with the People’s Supreme Court, Deputy Prime Minister Truong Hoa Binh said that the agency needs to work for systematic and timely return of stolen assets. 

Meanwhile, an advisor from the United Nations Office on Drugs and Crime (UNODC) said that Vietnam should facilitate and promote the participation of different sectors, mostly private sector and the press in prevention and recovery of stolen assets.

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