Vietnam - State-owned groups absent from auditing list 2012

VietNamNet Bridge – The State Audit of Vietnam Agency (SAV) plans to work at 29 State-owned organizations in the business–banking sector this year. However, only one State-owned economic group is in the list.


The Vietnam Chemical Group will be the only State-owned economic group that will be audited this year.

Remarkable names in the list include the Vietnam Petroleum Import Export Corporation (Petrolimex), the Vietnam Construction Import Export Corporation (Vinaconex), the Vietnam Investment and Development Bank (BIDV), the Cuu Long Housing Development Bank (MBH), etc.

SAV’s vice chief auditor Le Minh Khai said that the Ministry of Transport had proposed to cancel auditing at the Northern Airport Corporation, because this corporation is implementing some important works and is about to merge with the Central Region and Southern Airport Corporations.

The requirement to audit State-owned corporations and economic groups emerges after many scandals in this sector. Khai said that this year the SAV would work at agencies that have not been audited in the last 1-2 years.

Vice Chair of the National Assembly’s Committee of Economics, Mai Xuan Hung, said that in 2012, many State-owned would strongly perform restructuring at the instruction of the government. This is the reason for their absence from the auditing list 2012.

A SAV’s representative said that though it does not directly audit State-owned economic groups, but the agency will carry out specialized auditing programs over the use of state capital, construction projects and national projects.

Vice chief inspector Khai also said that this year SAV would focus on the operation of banks and financial organizations. 

This year, the State Audit planned to carry out 155 audits, an increase of 2.6 percent over last year, with 11 new special areas, including poverty reduction programmes and electricity subsidies to the poor. The State Audit has also targeted to raise the quality of auditing and to provide the Government an exact and comprehensive picture of the economy, said Khai.

Last year, the State Audit conducted 151 audits, saving the State budget over VND4.8 trillion (US$228.6 million). It also asked the police to investigate some cases, including the II-Agribank Financial Leasing Company, the West Lake road project, etc.

The audit findings of last year, with a focus on electricity rates and use of the petrol price stabilisation fund, were expected to be published at the middle of this year after approved by the National Assembly, Khai said.

Thu Ha


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