03:54 (GMT +7) - Wednesday 26/10/2016

Vietnam Today

Decree enacted on supervising State investment

Released at: 13:21, 08/10/2015

Decree enacted on supervising State investment

MoF tasked with supervising and evaluating performance of SOEs.

by Hoai An

The government recently issued Decree No. 87/2015/ND-CP on supervising State capital invested in the business activities, financial supervision, performance evaluation, and disclosure of financial information of State-owned enterprises (SOEs).

The Ministry of Finance (MoF) has been asked to coordinate with other ministries and agencies to supervise the investment of State capital in business activities.

Supervision must comply with the provisions of Article 51 of the Law on the Management and Use of State Capital in Production and Business.

Under the Decree, in the fourth quarter the MoF is to compile a plan on supervising State capital in businesses for release before January 1, after which related ministries must comply with the plan.

Where violations are detected by representatives of State capital in investment or procedures, the MoF must report to the Prime Minister and apply sanctions according to the law.

Supervision is to assess the implementation and efficiency of State capital in businesses and their financial situation and performance, to resolve any difficulties, complete business plans, and improve productivity.

User comment (0)

Send comment