Decree boosts SOE supervision

Wednesday, Dec 10, 2014 10:32

Footwear products are manufactured at the State-owned Thuong Dinh Footwear Company in Ha Noi. The Goverment has issued a decree to boost supervision of SOEs' strategies and plans. — VNA/VNS Photo Ngoc Ha

HA NOI (Biz Hub) — The implementation of strategies and plans and the progress of investment projects, as well as violations committed by State-owned enterprises (SOEs), must be reported regularly to ministries and provincial authorities in charge.

This reminder served as a key point of Decree 115/2014, which will come into effect on January 20 next year. The proclamation aims to regulate the inspection procedures with respect to the implementation of the appropriate 10-year strategies and five-year plans of SOEs with State holdings of 100 per cent charter capital.

Accordingly, governing ministries and provinces must keep a close watch on the implementation of SOEs. In addition, the officials in charge will be required to report to the Ministry of Planning and Investment before the designated deadlines.

Reports must be issued in the sixth year of the 10-year strategies, the third year of the five-year plans and within 90 days after the completion of the strategies or plans.

Reports must cover the results and progress, as well as an evaluation of the shortcomings or violations during the implementation of the strategies or plans.

Annually, the governing ministries and provinces must check on several enterprises, especially those under special financial supervision. They must also inspect the performance of those that play important roles in regulating the market, ensuring social security and contributing largely to the State budget. The designated officials must also scrutinise enterprises that fail to submit complete reports.

The decree also included provisions regulating the administration procedures of the inspections and checkups of the implementation of strategies and plans of SOEs with State holdings of more than 50 per cent of charter capital.

This decision aims to ensure that SOEs implement their assigned strategies and plans efficiently, as well as tackle problems effectively and prevent violations strictly. — VNS

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