Investment in enterprises under the Ministry of Defense and the Ministry of Transport supervised

	Local State Treasuries have high investment disbursement rate
	Large real estate enterprises reduce amount of payable tax by hundreds of billions of VND
	Regulations revised to accelerate payment of public investment projects

Illustrative photo: internet.

Specifically, for the Ministry of Defense, the Ministry of Finance shall directly supervise five enterprises, including: Rubber One Member Company Limited, 14 Mechanic and Chemicals One Member Limited Liability Company, 15 Electro and Chemicals One Member Limited Liability Company, 13 Mechanic and Chemicals One Member Limited Liability Company and Defense economic technical industry corporation.

For the Ministry of Transport, in the second quarter of 2020, the Ministry shallconduct indirect supervision, focusing on the following contents: additional investment in charter capital for five enterprises, including four state-owned enterprises (Maritime Safety Assurance North, Southern Maritime Safety Assurance Corporation, Vietnam Air Traffic Management Corporation, Vietnam Maritime Communication and Electronics LLC) from the Development Investment Fund and reassessment of maritime infrastructure assets; and one joint stock company (Transport Hospital) from re-determination of state capital value.

For the Ministry of Agriculture and Rural Development, the Ministry of Finance shall supervise directly in the second quarter of 2020.

For the State Bank, the Ministry will carry out indirect supervision in the second quarter of 2020, focusing on the additional investment in charter capital for two state enterprises, such as the Bank for Agricultural and Rural Development, from the special bond payment fund, and Vietnam Asset Management Company (VAMC) from National Fund for Monetary Policy Implementation.

In addition, owner’s representatives such as the Ministry of Education and Training, the Ministry of Information and Communications, the Ministry of Culture, Sports and Tourism, the Ministry of Labor, Invalids and Social Affairs, and the Ministry of Science and Technology must be responsible under the law for the supervision performance without reports as prescribed, the Ministry of Finance does not make a supervision plan.

In addition, the Ministry of Finance shall preside over and coordinate with the owner’s representatives to supervise state capital investment activities in enterprises in 2019 by ministries and ministerial-level agencies and government-attached agencies; and state investment activities in enterprises in 2019 by localities (from the fund for support and arrangement of enterprises).

The Ministry of Finance shall not conduct supervision, the owner’s representatives shall take responsibility for supervising and reporting as prescribed on the following cases: there are state capital investment activities in enterprises in 2019 by localities (not from the fund for support and arrangement of enterprises); there are no state capital investment activities in enterprises in 2019 by ministries, ministerial-level agencies, government-attached agencies and localities.

Cases up to February 19, 2020 have not been reported to the Ministry of Finance on the situation of state capital investment in enterprises in 2019 and a plan for supervision of state capital investment in enterprises in 2019 (implemented in 2020) at the request of the Ministry of Finance due to lack of basis to make the report and publish the plan, the owner’s representatives will be solely responsible.

Regarding contents of supervision, the Ministry of Finance shall supervise contents specified in Clauses 2, 3, 4, 5 and 6, Article 51 of the Law on management and utilization of state capital invested in the enterprise's manufacturing and business activities; Article 6 of Decree No. 87/2015 / ND-CP dated October 6, 2015 on supervision of state capital investment in enterprises; financial supervision, performance assessment and disclosure of financial information of state-owned and state-invested enterprises; and Article 4 of Ministry of Finance’s Circular No. 200/2015 / TT-BTC dated December 15, 2015 guiding a number of contents of the supervision of the investment of state capital in enterprises, financial supervision and evaluation of operational efficiency and disclosure of financial information of state-owned enterprises and state-invested enterprises.

Regarding methods of supervision, for cases of arising state capital investment in enterprises in 2019 by ministries and government attached-agencies,the Ministry of Finance shall assume the prime responsibility and coordinate with owner’s representatives to conduct direct supervision.

For cases of arising state capital investment in enterprises in 2019 by localities (from the fund for support and arrangement of enterprises), the Ministry of Finance shall assume the prime responsibility and coordinate with owner’s representatives to conduct direct supervision.

Based on the proposed supervision plan sent to the Ministry of Finance, the owner's representatives are responsible for direct or indirect supervision according to the contents and methods prescribed and guided in Clauses 2, 3, 4, 5, and 6 of Article of 51 Law on management and utilization of state capital invested in the enterprise's manufacturing and business activities, and Article 6 of Decree No. 87/2015 / ND-CP and Article 4 of Circular No. 200/2015 / TT-BTC of the Ministry of Finance.

Regarding the organization of implementation, the owner’s representatives shall carry out supervision according to the proposed plan and report on the situation of state capital investment in enterprises in 2019 to the Ministry of Finance before May 31, 2020 under Clause 3, Article 7 of Decree No. 87/2015 / ND-CP, which reports full contents according to Article 6 of Decree No. 87/2015 / ND- CP and Article 4 of Circular No. 200/2015 / TT-BTC of the Ministry of Finance.

Foreign investment inflows in M&A plunge in first four months A plunge in capital going into mergers and acquisitions M A deals reduced foreign investment inflows in ...

The owner's representatives shall coordinate with the Ministry of Finance to carry out the supervision plan of state capital investment activities in enterprises in 2019 (implemented in 2020).