Vietnam pays $1.86mn as first damages to 35 riot-affected firms

[cnleio]

Vietnam pays $1.86mn as first damages to 35 riot-affected firms

Authorities in Vietnam have started paying compensation for businesses, both local and foreign, which had their property damaged during anti-China riots breaking out in the southern region last month.

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The first part of the intended compensation, whose total worth has not been revealed, has been paid to 35 businesses that suffered in the riots occurring in Dong Nai Province on May 13 and 14, the Ministry of Finance reported on Sunday.

The ministry, in coordination with the Dong Nai People’s Committee and 10 insurance firms, handed VND39.65 billion (US$1.86 million) to these businesses, most of them foreign-invested, in a ceremony held in the province on June 22.

Of the amount, VND38.5 billion ($1.8 million) was paid to 30 Taiwanese-invested companies, VND700 million to two Chinese businesses, and the remainder to three Vietnamese firms, the ministry said.

Compensation will continue to be made payable to other beneficiaries in the near future, it added.

Earlier, the ministry also cooperated with the People’s Committee of Binh Duong Province, situated in the south, and a number of insurance firms to pay VND114 billion ($5.35 million) as initial compensation to 113 businesses that were also damaged during the riots on May 13 and 14.

As previously reported, a large number of people took to the streets on the two days in some localities in Vietnam to demand that China remove its illegal oil rig Haiyang Shiyou 981 from Vietnamese waters, where it has been placed since May 1.

Taking advantage the peaceful rallies in Dong Nai, Binh Duong, Ha Tinh (a northern province), and Ho Chi Minh City, saboteurs incited violence and other illegal acts at some industrial parks and export processing zones.

In the riots, hooligans sabotaged corporate assets, looted property, and even attacked police officers.

Police then arrested more than 1,000 people in these localities and have charged hundreds of them with causing public disorder, stealing property, destroying or deliberately damaging property, and resisting persons in the performance of their official duties.

Four of the indicted people in Binh Duong and Dong Nai have been brought to trial and given sentences from five months to 36 months in jail.

 

[Raphael]

Good. Unlike the delusional Viets on this board who think that rioting, mob violence, throwing jungle tantrums can all be justified, the VN government at least recognizes that this uncivilized behaviour horrifies the outside world, and that VN simply can't endure foreign investment and capital fleeing their economy.

 

[GreenFalcon]

Damm, no one ever gives me a Million$$

 

[Viet]

Good. Unlike the delusional Viets on this board who think that rioting, mob violence, throwing jungle tantrums can all be justified, the VN government at least recognizes that this uncivilized behaviour horrifies the outside world, and that VN simply can't endure foreign investment and capital fleeing their economy.

Don't talk rubbish. Personally I condemn the violence. With few exceptions Everyone condemns the riot.

That was the act of some hooligans.

 

[Soryu]

It's fair and normal things, only Chinese delusion boys gone mad with their stupid around here ...

 

[Rechoice]

It made base on insurance obligation of insurance companies: paid by 10 insurance firms,

10 insurance firms, handed VND39.65 billion (US$1.86 million) to these businesses, most of them foreign-invested, in a ceremony held in the province on June 22.

 

[xesy]

Aren't there a topic about Vietnam not paying the damage bill? Things cool off a bit now so Vietnam can pay for the damage. Good for Vietnam.

 

[EastSea]

Chinese didn't paid to compensation loses of Japan companies suffered in China recently.

 

[British Muslim]

Vietnam surrendering to Chinese economic pressure?

 

[DT1010]

Vietnam surrendering to Chinese economic pressure?

are you a noodle??

 

[Jlaw]

1.86m is not much for the hundreds of companies unless more to come. Estimation was at least $1b.

 

[xesy]

1.86m is not much for the hundreds of companies unless more to come. Estimation was at least $1b.

Those are the first group. Certainly there will be others come along as well. Vietnam just has to make sure that money goes to the right person, i.e the damaged firms in the May riot.

Vietnam surrendering to Chinese economic pressure?

Nah, things cool off a little now so Vietnam can be a little more flexible. We don't want our actions be interpreted in such wrong ways like you did.