According to the Directive, while bidding and auction activities in the region have become well-established, contributing to efficient land and mineral resource utilization and increased budget revenue, significant loopholes remain.
Some contractors, after winning bids, lack the necessary capacity to execute projects, leading to delays and slow disbursement. Notably, authorities have uncovered collusion to inflate prices, driving land and mineral auction prices to abnormal levels. This disrupts the market, impacts the investment environment, and even causes projects to be “frozen” post-auction.
Bidding and auction activities in Quang Tri show signs of irregularities.
The Directive mandates that leaders take full responsibility for bidding and auction processes within their units, enhance post-audit checks, and promptly address or recommend severe penalties for violations.
The Quang Tri Provincial Party Committee also emphasizes improving state management efficiency in public asset auctions, particularly for land use rights, mineral exploitation rights, and surplus assets post-merger.
An unusually inflated mineral mine auction session in Quang Tri.
Additionally, departments and agencies are tasked with accelerating IT application, implementing e-bidding as scheduled, and ensuring transparency. The Fatherland Front and mass organizations are encouraged to enhance social supervision and criticism, urging citizens to report auction and bidding violations.
The Provincial Party Committee’s Internal Affairs Board is responsible for monitoring, inspecting, and annually reporting implementation results by December 20.
What Insights Can We Gain from the Surge in Corporate Divestment?
Numerous state-owned corporations, enterprises, and even banks are divesting from various units. According to experts, this divestment stems from businesses reevaluating their strategies, with many non-core investments, prolonged projects, or underperforming assets being addressed.
VNPT Announces Auction of 188.7 Million MSB Shares
VNPT is set to auction over 188.7 million shares in MSB, with a starting price of 18,239 VND per share. This equates to a total lot value of approximately 3,441 billion VND.
Bank Auctions Multiple Foreclosed Properties
As the year draws to a close, banks are aggressively liquidating collateralized assets to recover debts ranging from tens to hundreds of billions of dong. While non-performing loan ratios have risen, they are not considered a significant cause for concern.
Hà Nội Seeks to Divest from Once-Iconic Shoe Brand, Sparking Stock Market Speculation
Starting at an initial price of 20,500 VND per share, the Hanoi People’s Committee stands to generate a minimum revenue of 130.9 billion VND should the entire lot of shares be successfully auctioned.
Miliket Shares Surge Following Vinataba’s Sale at Double Market Price
On November 20th and 21st, shares of Colusa – Miliket Foodstuff JSC (UPCoM: CMN) surged to their daily limit, marking consecutive sessions of remarkable trading volume.
