State Audit helps make national financial sector healthier
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.
Hanoi (VNA) – The State Audit has shown strong performance in auditing the restructuringof State-owned enterprises (SOE) since it involved in the work in 2011, with betterresults through years, contributing to making the national financial sectorhealthier.
In the 2012-2016period, the State Audit examined the evaluation of 17 SOEs, raising the Statecapital by over 22.23 trillion VND (955.89 million USD).
In 2016 alone, theagency proposed settlement measures on nearly 38.78 trillion VND (1.66 billionUSD), 1.8 times higher than that in 2015, recording the highest result in 22years.
In 2017, the StateAudit helped increase State budget collection by nearly 4 trillion VND (172million USD), while suggesting financial handling on 6 trillion VND (258million USD). The agency’s SOEs value assessment auditing results showed a riseof over 9 trillion VND (387 million USD) in State capital in SOEs.
Besides, many problemsin management and use of public assets were discovered for timely settlement.
For the 2011-2015period, the State Audit found that as of December 31, 2015, only 96.3 percentof the set target in SOE restructuring for the period was completed. It also pointedout problems of the remaining firms, including wrongdoings in restructuring anddivestment process.
In this period, thehanding over of State ownership representative rights at enterprises belongingto ministries, sectors and provincial People’s Committee to the State CapitalInvestment Corporation (SCIC) got slower, found the agency which added that theimplementation of targets in management, trading and investment of Statecapital in enterprises in line with the focusing of capital to prioritisedsector remained inefficient.
On the basis of thefindings, the State Audit proposed to the Government and the Prime Minister toseparate the State ownership representative rights and State management overcapital, and giving the rights to the SCIC.
The agency also askedministries to adjust management mechanisms, policies and solutions, while givingenterprises recommendations to overcome problems in equitisation and divestmentin line with the approved plans.-VNA
Prime Minister Nguyen Xuan Phuc has urged the State Audit Office of Vietnam (SAV) to work harder to figure out the root causes behinds wrongdoings in the use of State resources to trigger loss and misspending of public assets, thus devising prompt and efficient preventive solutions.
The Ministry of Finance (MoF) has urged some State-owned enterprises (SOEs) to hasten their equitisation and divestment plans, as progress remains slow and might fail to meet their deadlines this year.
As many as 32 Supreme Audit Institutions (SAIs) and international organisations have confirmed that they will attend the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI) slated for September 19-22 in Hanoi.
Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Finance (MOF) and General Department of Taxation (GDT) to study media reports on transfer pricing of foreign direct investment (FDI) enterprises and tax policy.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Illustrative image (Source: VNA) 
