Mr. Duong Van Mau, a board member and former Chairman of the Board of Directors of Northeastern Electric Development Investment Joint Stock Company (NEDI2), has been arrested by the Ministry of Public Security for violating bidding regulations. He also serves as Deputy General Director of Vietnam Construction Import-Export Corporation (Vinaconex). Mau was relieved of his position as Chairman in February 2025. NEDI2, managed by Vinaconex, focuses on energy investment, particularly hydropower, with the Ngai Phat hydropower plant in Lao Cai. The company has a charter capital of nearly 500 billion VND and total assets of about 1,500 billion VND. Vinaconex owns 51.1% of NEDI2, while Toyota Tsusho Corporation holds 35%. In 2025, NEDI2 reported a revenue of approximately 409 billion VND, up 12%, and a post-tax profit of 214 billion VND, up 32% compared to the previous year.
Leave a Reply