State corporations and groups have been found to have committed violations worth nearly 350 trillion VND (US$15.4 billion) in State capital usage and management during the 2011-2016 period, according to the Government Inspectorate.
The figure was counted following 19 inspections carried out by the Government Inspectorate during the period.
Most violations found at State businesses and corporations related to investment procedures, the purchasing of public assets, and weak management capacity that led to other violations in economic management and regulations.
Limitations in inspection and supervision tasks of relevant ministries and agencies are also blamed for the wrongdoings in State capital management at these businesses, according to the Government Inspectorate’s report.
The Government Inspectorate proposed to take nearly 1 trillion VND (44 million USD) from the money in violations for the State budget, and proposed other relevant agencies handle the remaining money.
The Inspectorate also proposed administrative punishments on individuals and teams for violations and suggested relevant ministries and agencies follow regulations and policies to deal with shortcomings in management tasks.
A special State capital management committee was formed by the Government in early February this year which has taken charge of supervising State capital in 21 State-owned enterprises.
The committee is expected to help the Government to efficiently manage and supervise State capital and assets at enterprises as well as implement restructuring and State capital divestments. It also aims to boost the efficiency of State-owned enterprises.
Illustration photo
|
Limitations in inspection and supervision tasks of relevant ministries and agencies are also blamed for the wrongdoings in State capital management at these businesses, according to the Government Inspectorate’s report.
The Government Inspectorate proposed to take nearly 1 trillion VND (44 million USD) from the money in violations for the State budget, and proposed other relevant agencies handle the remaining money.
The Inspectorate also proposed administrative punishments on individuals and teams for violations and suggested relevant ministries and agencies follow regulations and policies to deal with shortcomings in management tasks.
A special State capital management committee was formed by the Government in early February this year which has taken charge of supervising State capital in 21 State-owned enterprises.
The committee is expected to help the Government to efficiently manage and supervise State capital and assets at enterprises as well as implement restructuring and State capital divestments. It also aims to boost the efficiency of State-owned enterprises.
Other News
- Hanoi's largest incinerator to process one million tons of waste this year
- Jan-April job growth impressive in Hanoi
- Supermarkets in Hanoi offer promotions during national holidays
- Passengers crowd bus stations in Hanoi to move away for holidays
- Hanoi takes drastic action against environmental violations
- Voluntary social security should cover larger part of informal sector: Experts
- Excellent quality goods aim further than domestic market
- Hanoi launches occupational safety action month
- Hanoi digitizes public transport ticketing
- A new lease on life for Hanoi's community library system
Trending
-
Nhon – Hanoi station metro line: An example of Vietnam-EU cooperation
-
Vietnam news in brief - May 4
-
Vietnamese Government steps up efforts to develop market for carbon credits
-
Hanoi: The 'epic victory' of Dien Bien Phu as seen in photos
-
Vietnam seeks more information on Cambodia’s Funan Techo canal project
-
Hanoi strives to ensure smooth high school exams
-
Carnaval Ha Long 2024 woos tourists with fireworks and drone light shows
-
Trivial jobs: Hanoians strive to keep their old trades alive
-
Affordable, quality tours offered at Hanoi Tourism Festival 2024