Illustrative image (Source: VNA)

Hanoi (VNA) – The State Audit has shown strong performance in auditing the restructuring of State-owned enterprises (SOE) since it involved in the work in 2011, with better results through years, contributing to making the national financial sector healthier.

In the 2012-2016 period, the State Audit examined the evaluation of 17 SOEs, raising the State capital by over 22.23 trillion VND (955.89 million USD).

In 2016 alone, the agency proposed settlement measures on nearly 38.78 trillion VND (1.66 billion USD), 1.8 times higher than that in 2015, recording the highest result in 22 years.

In 2017, the State Audit helped increase State budget collection by nearly 4 trillion VND (172 million USD), while suggesting financial handling on 6 trillion VND (258 million USD). The agency’s SOEs value assessment auditing results showed a rise of over 9 trillion VND (387 million USD) in State capital in SOEs.

Besides, many problems in management and use of public assets were discovered for timely settlement.

For the 2011-2015 period, the State Audit found that as of December 31, 2015, only 96.3 percent of the set target in SOE restructuring for the period was completed. It also pointed out problems of the remaining firms, including wrongdoings in restructuring and divestment process.

In this period, the handing over of State ownership representative rights at enterprises belonging to ministries, sectors and provincial People’s Committee to the State Capital Investment Corporation (SCIC) got slower, found the agency which added that the implementation of targets in management, trading and investment of State capital in enterprises in line with the focusing of capital to prioritised sector remained inefficient.

On the basis of the findings, the State Audit proposed to the Government and the Prime Minister to separate the State ownership representative rights and State management over capital, and giving the rights to the SCIC.

The agency also asked ministries to adjust management mechanisms, policies and solutions, while giving enterprises recommendations to overcome problems in equitisation and divestment in line with the approved plans.-VNA