Under Plan No.478/KH-TTCP, GI in the second quarter will inspect the responsibility of State Bank of Vietnam (SBV) in the implementation of the project on restructuring credit institutions (CIs) in combination with settling non-performing loans (NPLs) at CIs in the past five years.
The restructuring of Ministry of Industry and Trade’s firms will be inspected
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Overall solutions of the restructuring project include completing the legal framework, perfecting policies and mechanisms related to monetary and banks’ operations, improving the financial and business administration capacity of credit institutions and bettering inspections and supervisions over banks’ operations.
The project stresses the need to improve the SBV’s capacity to make early warning of systematic risks and to prevent the risk of law violations of credit institutions and foreign banks’ branches.
For bad debt settlement measures, the project asks the SBV, ministries, localities, credit institutions, Vietnam Asset Management Company (VAMC), and organisations and individuals involved to continue implementing the Decision No.843/QD-TTg on settling bad debts of the credit institution system.
The SBV, ministries and localities are requested to continue implementing measures related to monetary, credit and banking policies and mechanisms, along with solving difficulties for business and production activities, and stimulating consumption.
The SBV also needs to intensify inspections and supervisions on credit institutions’ observance of rules on credit, safe operation and debt classification.
Besides SBV, the ministries of Industry and Trade, Science and Technology, Labour, Invalids and Social Affairs, along with Home Affairs, will also be inspected in the second quarter of this year.
According to the plan, GI will inspect the implementation of restructuring State-owned enterprises at the Ministry of Industry and Trade and their management and use of land.
The inspections will also include the observance of the law related to capital and assets, divestment and restructuring at the Vietnam Tobacco Corporation.
At the Ministry of Science and Technology, GI will focus on inspecting funds for investment projects, besides observing the law on measurement, quality and standards.
GI will also carry out inspections related to the management and use of public land, construction investment and natural resources exploitation in seven provinces of Bac Giang, Phu Tho, QuangTri, Binh Dinh, Dak Nong, Kien Giang and Binh Phuoc.
Addressing a meeting to review the inspection work in 2017 and embark on task in 2018 held early this year, Politburo member and Deputy Prime Minister Truong Hoa Binh requested GI to enhance state management and complete institutions in the fields of inspection, complaint, denouncement and anti-corruption to improve the efficiency of its operations, he noted.
He highlighted the importance of cooperation with relevant agencies and organisations, especially the State Audit of Vietnam to reach consensus in conclusions, identify ways to handle violations and reduce overlaps in inspection and audit activities in enterprises.
Last year, the Government Inspectorate carried out 7,539 administrative inspections and 273,284 specialised inspections which detected violations of economic laws and regulations involving the misuse of over VND67.75 trillion (US$2.98 billion) and more than 17,500 hectares of land. It proposed reclaiming VND43.3 trillion ($1.9 billion) and nearly 5,000 hectares of land.
In addition, the sector received more than 415,000 citizens and recommended to tackle 25,519 out of 30,324 complaints under its authority.
