“Don’t throw the baby out with the bathwater”: Viewed from a number of recent criminal prosecutions of businessmen

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Handling violations with the right people, with the right crimes, without causing harm to businesses and destabilizing the business environment.

Recently prosecutions of a number of individuals at enterprises such as Viet A, FLC, Tan Hoang Minh, Louis Holding, Tri Viet Securities, etc., have shown a lot of positive signals in the anti-corruption work carried out by our Party.

Other cases in large enterprises have been brought to light, demonstrating that the Party and State's anti-corruption work has been implemented drastically, comprehensively, from the top down, without exceptions and restricted areas.

However, public opinion caused information disturbances, even showing the expression of "dumping goods", "pushing" businesses whose individuals are affected with the risk of “bankruptcy”.

These acts are trying to "equalize" individual mistakes with the image of the whole group, causing instability to society, businesses and employees. Particularly, the prosecution of the head of FLC or Tan Hoang Minh was followed by flows of opinions demanding a "boycott" of the brand, "wiping out" of the projects that the enterprise has built or is in the process of doing which create jobs for thousands of workers.

Higher, some are "bold" to propose to inspect and handle a series of other real estate businesses that are involved in genuine business, making practical contributions to building a recognized national image and are confirmed by the Party and State.

The introduction of false information has, in the immediate future, "pushed" businesses into difficulty, followed by panic and instability of thousands of employees which requires solutions to prevent any actions that could promote bad consequences or lead to losses, even breakdown of the unit.

First of all, it must be affirmed that the prosecution of individuals Trinh Van Quyet, Do Anh Dung is not "sinking" an entire brand. In the opening speech of the 10th Central Conference (Term XII), General Secretary Nguyen Phu Trong said: "Don't discriminate against the private economy because it must be fair. Instead, those with considerable achievements deserve praise, reward, and even conferred heroic titles. No discrimination, but at the same time, asking them to correct mistakes."

The speech of the head of the Party has shown that the Party and State are always interested in creating favorable conditions for businesses and entrepreneurs to develop, which is also building and protecting the brand and image of Vietnamese enterprises. However, the Party, State and Government also require businesses and entrepreneurs to correct mistakes. The prosecution of the heads of big brands is not outside the purpose of rectification, giving entrepreneurs a chance to look back on the process of building and developing the brand of their business. Thereby, the Vietnamese business community can trust that the Party and State always do their best to create trust for people and businesses, and ensure that the law is implemented more seriously.

A practical example is the National Brand Program assigned by the Government to the Ministry of Industry and Trade to organize for nearly 18 years. With its role and responsibilities, the Ministry of Industry and Trade has made many efforts to make the program achieve many positive results, contributing to raising awareness of all levels, sectors and the business community about the importance of the brand’s building, development and protection.

The handling of a few individuals has also contributed to breaking down barriers for Vietnamese brands to elevate and affirm their position in the international arena.

The message of the management agencies is very clear, handle violations with the right people, the right crimes, only handle the wrong ones, and do not harm businesses and destabilize the business environment. Besides, we have to frankly admit that catching a few "worms" carrying big brands is undesirable. Any brand of the collapsed economy is painful because this is the effort of a whole team, not just a few people who created it in a few years.

Only when the company's brand is sustainable, will the national image confirm its position. The recent prosecution of individuals is to clarify their behavior, personalize their violations, and demonstrate that the handling of violations of the law do not offer exceptions and prohibited areas. It is also the distinction between merit and sin.

The corporate brand is not to be blamed, but the fault of each individual has affected that brand. Behind the success of a brand, there are also tens of thousands of officers and employees, and many of them are qualified, capable and are entrepreneurs, managers and employees with determination to branding. This is also a valuable asset to the nation and society.

A number of individuals have been arrested and prosecuted recently, which is also a wake-up call for individuals and businesses with motives in illegal profiteering, who only know how to collect for themselves but go against the "general rules of the game”.

If looked at as a whole, those are just cases appearing during the developing period of the stock market and high-potential corporate bonds.

That is also the motivation and opportunity for ministries and agencies to review and fill in the "gaps" in terms of mechanisms and laws (if any) to ensure healthy and sustainable financial mobilization.

Referring to this point of view in the Party's anti-corruption work, General Secretary Nguyen Phu Trong also stated as Uncle Ho and our ancestor’s words which refers that it is wise to keep the stability. It is not the wrongdoings of a few individuals to stir things up and cause a loss of trust, but to create a stable and equal playing field in the marketplace.

It is high time to set up strict sanctions, otherwise, the brand image of Vietnamese businesses can’t catch up within the integration process, and it just stays "around" on the home turf? A few individuals with shortcomings cannot represent the entire genuine business community. If not strictly handled, will these individuals "come to their senses" or keep "losing their way".

In the process of building and developing a brand, the slip of some businesses and entrepreneurs when entangled in the legal cycle such as the head of FLC Group, Tan Hoang Minh is inevitable.