State-owned groups’ investments to be audited

The State Audit of Viet Nam (SAV) agency has been auditing state-owned groups’ investments in fields that are not their fortes. SAV’ Head Vuong Dinh Hue talked with Viet Nam Net about the upcoming audit.

According to Hue, these groups are audited annually. This year SAV is focusing on three corporations, the Electricity of Viet Nam (EVN) group, the Viet Nam Coal and Mineral Group, and Viet Nam Shipping Lines Corporation (Vinalines).

Hue said SAV must give recommendations to these groups and the government on the better use of state capital. SAV has just finished its job at Vinalines and will audit EVN next week and the Viet Nam Coal and Mineral Group after that.

The audits of EVN and the Viet Nam Coal and Mineral Group will be the foundation for the government to consider the price increase of electricity, he said.

SAV will also define the ratio of capital that these groups have invested in fields that are not their fortes and the effects of investment in these projects.

Hue said that next-week’s audit would be the largest so far this year and take three months, mobilising around 100 auditors.

The results will be announced in October. (Viet Nam Net)