The debarment is part of a Negotiated Resolution Agreement following the acknowledgement of fraudulent practices under a transport project in Vietnam
WASHINGTON, October 18, 2016 — The World Bank Group announced the debarment of Minh Anh Construction Joint Stock Company. An investigation by the World Bank Integrity Vice Presidency revealed that the company misrepresented facts while bidding for a contract under the Northern Delta Transport Development Project Phase I in Vietnam.
“The outcome of this investigation is evidence that acknowledgement of misconduct and cooperation during an investigation can reverse some of the economic and reputational damage incurred by sanctionable practices and their impact on development projects,” said Leonard McCarthy, World Bank Integrity Vice President.
Under the Negotiated Resolution Agreement (NRA) with the World Bank, the company will not be eligible for any World Bank-financed contracts for fourteen months. In addition, Minh Anh Construction Joint Stock Company is required to adopt bid preparation policies and procedures as well as cooperate with the World Bank Integrity Vice Presidency.
The debarment of the company qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.