Call Us! 0251.368.2990

Three Ministry into the investigation of giant aluminium ware suspected of Chinese billionaire poured into Vietnam

On April 25, the Ministry of Industry and Trade sent a letter to the Ministry of Finance, the Ministry of Planning and Investment, the People's Committee of Ba Ria - Vung Tau province on the nomination of a representative to participate in inspection team on transporting aluminium from China Vietnam to Vietnam.


This inspection aims at implementing the direction of Deputy Prime Minister Trinh Dinh Dung at Document No. 3207 / VPCP-KTTH dated 3/4/2017 of the Office of the Government on the inspection of information on transportation of alumina Chinese origin to Vietnam.


The inspection team will conduct inspection at Global Aluminium Company Vietnam based in Ba Ria - Vung Tau. The inspection period is scheduled for mid-May 2017.


Global Vietnam Aluminium Co, located in My Xuan B1-Conac Industrial Zone, Tan Thanh District.


Global Aluminium Company of Vietnam is investing in aluminium forming factory. The project is funded by two Chinese nationals, Jacky Cheung (35) and Jack Tong (36). In this project, Jacky Cheung contributed nearly 500 billion dong, Wang Tong contributed nearly 4,500 billion dong.

The company was granted investment license by Ba Ria - Vung Tau Industrial Zone Authority, operating for 37 years from 2011.


At present, the factory of Vietnam Aluminium Company is rushing to be built.

Late last year, the Wall Street Journal reported that 500,000 tonnes of aluminium (for aluminium production) was silently transferred from San José Iturbide (Mexico) to Vietnam. This led to doubts about the origin of the giant aluminium warehouse carefully guarded at a factory in Vung Tau.


This item was then confirmed by Tran Van Danh, Head of Ba Ria - Vung Tau Customs Department, with the press of Global Aluminium Company of Vietnam.


A Wall Street Journal investigation has questioned the number of aluminium originating in Mexico in Vietnam that is related to one of China's richest people, said Liu Zhongtian, president of China Zhongwang Holdings Aluminium Company.


US aluminium firms have accused Liu of shipping goods to Mexico to hide origin to evade taxes.


Currently, according to US tax rates, extruded aluminium from China is subject to anti-dumping tariffs up to 374% while if the origin is Vietnam, the tax is only 5%. The Wall Street Journal said that the aluminium in Vietnam was related to the company of Liu and his family.

The large aluminium shipments from Mexico to Vietnam coincided with an increase in the volume of aluminium imported into Vietnam from both China and the United States. Major cargo passes through the seaports close to Liu's businesses in Vietnam.

Source: Young Intellectuals