Vietnam ministry weighs cash bounties to catch corrupt officials

Vietnam's finance ministry may offer cash rewards as much as 50 million dong ($1,964) to individuals offering tips to help the government in its ongoing anti-corruption campaign, reports Bloomberg.

The ministry floated the proposal in a draft circular regulating anti-corruption steering committees in cities and provinces, according to a statement on the government's website. 

Enticing people to come forward with confidential information to help crack corruption at all levels of government and society could give a boost to efforts spearheaded by Communist Party chief Nguyen Phu Trong, who likens his anti-graft push to a "blazing furnace."

Hundreds of senior officials and business executives have been detained and a death sentence was given to a real estate tycoon in a $12 billion fraud case. Two presidents, two deputy prime ministers and other party officials recently quit office. 

The proposal could address what some observers believe is an inadequate whistleblower protection program.

Earlier last month, Vietnam's parliament elected police minister To Lam as the state president in a move analysts see as a "stepping stone" for Lam to bid later for the position of chief of the ruling Communist Party, the country's top job.

As head of the public security ministry, Lam, 66, has been a crucial figure in a sweeping anti-graft campaign, known as "blazing furnace", which is aimed at rooting out widespread corruption but has also been seen by critics as a tool to sideline opponents during political infighting. 

That in turn is denting the country's appeal among foreign investors, who mostly reduced their securities holdings in recent months in coincidence with bad political news. It is also paralysing the public administration, with billions of dollars in foreign aid and public funds unspent.

After his election, Lam told lawmakers he would "resolutely and persistently continue the fight against corruption".