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Trade ministry revokes Hai Ha Petro’s business license

The Saigon Times

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HCMC – Hai Ha Petro, a major company in the petroleum sector, has had its business license revoked due to the improper use of the fuel price stabilization fund and unresolved tax debts.

The Ministry of Industry and Trade issued the decision to revoke Hai Ha Petro’s license on January 12. The company operates a network of agents and gas stations in several northern provinces and cities, including Hanoi, Haiphong, Quang Ninh and Thai Binh.

According to the findings of the Government Inspectorate, Hai Ha Petro was identified as one of the three major enterprises misusing the petroleum stabilization fund.

Additionally, the company owed environmental protection taxes amounting to billions of Vietnamese dong. As of the end of November 2023, the balance of the petroleum stabilization fund at this enterprise was VND612 billion.

To prevent supply disruptions in the market, the ministry has also requested Vietnam National Petroleum Group (Petrolimex), PetroVietnam Oil Corporation (PVOil), and Military Petrochemical Joint Stock Company (MIPEC) to ensure a stable fuel supply, especially during the Lunar New Year holiday.

Furthermore, on January 10, the ministry announced that it was considering revoking the license of Thien Minh Duc Company in Nghe An Province due to improper use of the fuel price stabilization fund and the declaration of environmental protection tax.

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