BANGKOK – An appeals court in Ho Chi Minh City has reduced the life sentence of Vietnam’s biggest corporate fraudster to 30 years in prison after she paid millions of dollars in compensation to buyers of bogus bonds, state media reported Monday. Truong My Lan, the 68-year old chairwoman of property company Van Thinh Phat, was separately sentenced to death in April last year for embezzling US$27 billion from Saigon Commercial Bank in which she held a more-than-90% stake. Her appeal against the death penalty was rejected in December, but…
Tag: Vietnam
Vietnam agrees to buy US F-16 fighters, defense website says
Updated April 21, 2025, 03:40 a.m. EDT BANGKOK – Vietnam has reached an agreement with the United States to buy F-16 fighter jets, a defense website said, citing industry representatives and a former U.S. government official. Hanoi will acquire at least 24 of the Lockheed Martin single-engine fighters which, combined with other U.S. military ware, could add up to the biggest ever defense deal between two countries, 19FortyFive said Saturday. It is likely Hanoi will opt for the F-16 V model, which Lockheed calls the most advanced fourth-generation fighter, the…
Sri Lankan police pull plug on Vietnamese monk’s tour until he changes visa
Sri Lankan police on Thursday blocked Vietnamese Buddhist monk Thich Minh Tue from continuing his barefoot journey around the South Asian island until he changes his visa, a witness told Radio Free Asia. About 30 police descended on Tue and his group of 37 monks as they had finished eating and were preparing to depart from Narammala, a town about 40 miles (65 kilometers) northeast of the capital Colombo. “They waved a document sent from Vietnam, stating that this group was not a group of real monks, so walking like…
Vietnam to slash provinces as top leader To Lam seeks to consolidate power
Vietnam’s ruling Communist Party approved plans to nearly halve the number of provinces, a crucial step toward enabling top leader To Lam, who faces a party congress in January, to stay in power. The reduction in the number of provinces to 34 from 63 was approved on Monday by the Communist Party’s central committee. The same day, the Politburo, the party’s highest decision-making body, issued a directive for the appointment of new provincial leaders under the guidance of a close Lam ally. Lam, who became secretary general of the Communist…
China’s Xi seeks stronger Vietnam trade ties at start of SE Asia tour
Chinese President Xi Jinping sought stronger trade ties with neighboring Vietnam at the start of a five-day swing through Southeast Asia where Beijing presents itself as a source of economic stability amid uncertainty over U.S. tariffs. Xi was welcomed in Hanoi on Monday by Vietnam’s top leader To Lam. He also held talks with Prime Minister Pham Minh Chinh. The two countries signed 45 agreements including on enhancing supply chains and on cooperation over railways, Reuters reported. vietnam-china-xi-jinping Vietnamese General Secretary of the Communist Party To Lam and Chinese President…
Vietnam, US to start trade talks as Trump eases tariffs for 90 days
Updated April 10, 2025, 04:30 a.m. EDT BANGKOK – The U.S. and Vietnam have agreed to start talks on a trade deal, the Vietnamese government said Thursday, a possible sign of breathing space for some developing Asian countries as President Donald Trump escalates a trade war with China. Vietnam’s Deputy Prime Minister Ho Duc Phoc and U.S. Trade Representative Jamieson Greer met in Washington late Wednesday, the day that 46% U.S. tariffs on Vietnamese exports came into force along with higher tariffs on many other countries. Hours later, President Donald…
Vietnam courts European leaders amid concerns over US tariffs
BANGKOK – Fearing retaliatory U.S. tariffs, Vietnam is turning to Europe, hosting a succession of senior figures over the next two months. On Tuesday, President Luong Cuong met with Belgian’s monarch, King Philippe, and a business delegation, encouraging them to invest in key industries such as high tech manufacturing, renewable energy and infrastructure, state media reported. Philippe said he hoped Belgian businesses specializing in wastewater treatment, energy and rare minerals would set up shop in Vietnam. Cuong also asked Belgium to ratify the EU-Vietnam Investment Protection Agreement, signed six years…
Vietnamese Politburo member holds rare dialogue with dissidents
In a rare encounter, a Vietnamese Politburo member met to engage in dialogue with a dozen intellectuals and artists, including several well-known dissidents who are critical of the ruling Communist Party, attendees told Radio Free Asia. Sunday’s meeting in Saigon, which had been in the works for several months, had been proactively sought by Ho Chi Minh City Party Secretary Nguyen Van Nen, said poet Hoang Thuy Hung, one of the attendees. Vietnam’s 16-member Political Bureau, or Politburo, is the highest body of the Communist Party of Vietnam, and is…
China’s Exports Surge Are Drawing a Global Backlash
China’s factory exports are powering ahead faster than almost anyone expected, putting jobs around the world in jeopardy and setting off a backlash that is gaining momentum. From steel and cars to consumer electronics and solar panels, Chinese factories are finding more overseas buyers for goods. The world’s appetite for its goods is welcomed by China, which is enduring a severe downturn in what had been the economy’s biggest driver of growth: building and outfitting apartments. But other countries are increasingly concerned that China’s rise is coming partly at their…
Human rights in decline globally as leaders fail to uphold laws, report warns
Human rights across the world are in a parlous state as leaders shun their obligations to uphold international law, according to the annual report of Human Rights Watch (HRW). In its 2024 world report, HRW warns grimly of escalating human rights crises around the globe, with wartime atrocities increasing, suppression of human rights defenders on the rise, and universal human rights principles and laws being attacked and undermined by governments. The report highlights political leaders’ increasing disregard for international human rights laws. The report says “selective government outrage and transactional…