The decision was made during the Politburo’s meeting which was held in Hanoi under the chair of Party General Secretary and President Nguyen Phu Trong.
According to the Politburo, as a member of the Party Central Committee and the Government’s Party Civil Affairs Committee and Deputy PM in charge of business innovation from August 2011 to April 2016, Ninh signed documents allowing the equitisation and divestment of State capital from Quy Nhon Port JSC and Quang Ninh Port JSC.
He agreed in principle with the People’s Committee of Khanh Hoa province to continue with State capital divestment after taking over Nha Trang Port JSC. Ninh also gave green light to the plan to equitise the Airports Corporation of Vietnam and ten internal water management units, which were not subject to the equitisation.
These documents ran counter the Politburo’s conclusions and the Government’s decree on equitisation and divestment of State capital in tandem with the restructuring of State-owned enterprises.
In his positions as member of the Party Central Committee, Secretary of the Party Civil Affairs Committee of the Ministry of Finance, Minister of Finance and Chairman of the Vietnam Social Security Management Council from July 2006 to 2011, Ninh lacked responsibility in leadership, direction, examination and supervision and violated the Law on Social Insurance and the Government’s decree stipulating functions, tasks, rights and organisational structure of the Vietnam Social Security (VSS).
He let two VSS General Directors (in 2008 and 2009) seriously violate legal regulations through the signing of contracts allowing Agribank Financial Leasing Company No. 2 to get loans worth VND1.01 trillion ($43.43 million ).
The bankruptcy of the Agribank Financial Leasing Company No. 2 resulted in a huge loss to the State. The two VSS leaders and many officials and Party members involved in the case also faced criminal proceedings.
The Politburo said Ninh’s violations were serious and affected the prestige of the Party organisation and himself, causing public concern. Ninh accepted his responsibility for the violations and wrongdoings.
The Politburo also asked authorised agencies to issue administrative disciplinary measures against Ninh in proportion to the Party’s disciplinary measures.