Ho Thi Kim Thoa stripped of power at trade and industry ministry

The decision was made at the proposal of the Party Central Committee’s Secretariat asking the Prime Minister to dismiss Thoa from her duties.

Earlier, the Secretariat had decided to relieve Thoa of her membership at the Party delegation at the Ministry for her violations when she led the Dien Quang Lamp Joint Stock Company.

As Secretary of the Party Committee and Director of former State-owned Dien Quang Lamp Company, and then Secretary of the Party Committee, Chairwoman of the Board of Directors and General Director of the Dien Quang Lamp Joint Stock Company, from January 2004 to May 2010, Thoa violated regulations and procedures on business equitization, and wrongly handled the loan interest worth VND 6.7 billion (US$298,000) exempted by banks.

She infringed State regulations on land management when the company signed a contract with another company to invest in the land area at No. 12, Ton Dan Street in Ho Chi Minh City.

Thoa also failed to properly handle the VND 30 billion collected from the transfer of the right of the land area’s use and bought more shares than the permissible level and her transfer of shares also violated the company’s regulations./.

By Hai Minh