HANOI, Aug. 16 (Xinhua) -- Vietnamese Prime Minister Nguyen Zuan Phuc on Wednesday decided to dismiss Ho Thi Kim Thoa from the post of deputy minister of industry and trade for her violations when she led a company, local media reported.
After being relieved from the post, Thoa, born in 1960 in central Nghe An province, will be assigned to do a specific job, online newspaper VnExpress reported.
On Aug. 8, the Communist Party of Vietnam Central Committee's Secretariat decided to deprive her of her party membership.
While serving as director of former state-owned Dien Quang Lamp Company, Thoa violated state regulations on land management when the company signed a contract with another firm to invest in a land area in Ho Chi Minh City.
She also failed to properly handle the 30 billion Vietnamese dong (1.3 million U.S. dollars) collected from the transfer of the right of the land area's use.
Thoa bought more shares than the permissible level and her transfer of shares also violated the company's regulations.
Now, Thoa and some of her family members, including her mother, daughter and younger brother, hold roughly 11.8 million shares, or nearly 34.6 percent of charter capital of Dien Quang Lamp Joint Stock Company.
The shares are now worth nearly 500 billion Vietnamese dong (22.1 million U.S. dollars), reported VnExpress.
