World Bank debars technology company for fraud in Vietnam
June 24, 2020
The World Bank debarred a Vietnamese technology management company Wednesday for seven years for fraud and collusion involving two projects in Vietnam.
Ho Chi Minh City-based Sao Bac Dau Technologies Corporation (SBD) is ineligible to participate in World Bank-financed projects during the seven-year debarment.
SBD’s staff improperly influenced the tendering processes of two World Bank-funded projects in Vietnam.
The company included a falsified document in a bid, and failed to disclose its involvement in the up-stream work of the two projects.
Those are collusive and fraudulent practices, the World Bank said.
The $272 million World Bank-funded project in Danang
was designed to expand city residents’ access to improved drainage, wastewater collection and treatment services, the arterial road network, and public transport in selected areas.
The $295 million World Bank-funded project in Hanoi
was designed to increase urban mobility in targeted areas by increasing the use of public transport and promoting more environmentally sustainable transport modes and urban development plans.
The World Bank also debarred four SBD subsidiaries in Wednesday’s action.
As a condition of the settlement, SBD acknowledged responsibility and took voluntary remedial actions. The company agreed to take integrity compliance programs and cooperate with the World Bank Group Integrity Vice Presidency.
The FCPA Blog
https://fcpablog.com/2020/06/24/world-bank-debars-vietnam-technology-company-for-seven-years/