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Gov’t Inspectorate to conducts 25 inspections in 2018

The Government Inspectorate (GI) will conduct 25 crucial inspections this year, including scrutiny of the central bank’s implementation of a restructuring project in the past five years.
Gov’t Inspectorate to conducts 25 inspections in 2018 ảnh 1The State Bank of Vietnam (Photo: sbv.gov.vn)

Hanoi (VNA) - The GovernmentInspectorate (GI) will conduct 25 crucial inspections this year, includingscrutiny of the central bank’s implementation of a restructuring project in thepast five years.

According to Plan No.478/KH-TTCP issuedlast week by Chief Government Inspector Le Minh Khai, GI in the second quarterwill inspect the responsibility of State Bank of Vietnam (SBV) in theimplementation of the project on restructuring credit institutions (CIs) incombination with settling non-performing loans (NPLs) at CIs during 2013-17period.

SBV was entrusted to formulate the project,which aims to restructure CIs and settle NPLs on the principles of ensuring theinterests of depositors and maintaining the stability and safety of the bankingsystem as well as reducing the number of poorly performing CIs.

Overall solutions of the restructuringproject include completing the legal framework, perfecting policies andmechanisms related to monetary and banks’ operations, improving the financialand business administration capacity of credit institutions and betteringinspections and supervisions over banks’ operations.

The project stresses the need to improveSBV’s capacity to issue early warning of systematic risks and to prevent therisk of law violations of credit institutions and foreign banks’ branches.

For bad debt settlement measures, theproject requires SBV to intensify inspections and supervisions of creditinstitutions’ observance of rules on credit, safe operation and debtclassification.

Besides SBV, the ministries of Industry andTrade, Science and Technology, Labour, Invalids and Social Affairs, along withHome Affairs, will also be inspected in the second quarter of this year.

According to the plan, GI will inspect theimplementation of restructuring State-owned enterprises at the Ministry ofIndustry and Trade and their management and use of land.

The inspections will also include theobservance of the law related to capital and assets, divestment andrestructuring at the Vietnam Tobacco Corporation.

At the Ministry of Science and Technology,GI will focus on inspecting funds for investment projects, besides observingthe law on measurement, quality and standards.

GI will also carry out inspections relatedto the management and use of public land, construction investment and naturalresources exploitation in seven provinces of Bac Giang, Phu Tho, Quang Tri, BinhDinh, Dak Nong, Kien Giang and Binh Phuoc. - VNA
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