Vietnam: Regulations on supervisory body of state-owned and state-invested enterprises

According to Decree No. 87/2015/ND-CP of Vietnam’s Government, supervisory body of state-owned and state-invested enterprises is regulated as follows:

Illustration (Internet)

First, the representative agency:

- The specialize Ministry shall chair and coordinate with the Ministry of Finance to carry out the financial supervision and performance evaluation of production and business activities of enterprises which are parent companies, single-member limited liability companies established under the specialized Ministry or assigned to be managed under its authority;

- The People’s Committee shall chair and coordinate with the Ministry of Finance to carry out the financial supervision and performance evaluation of production and business activities of enterprises which are parent companies, single-member limited liability companies established under its decision.

Second, the financial institution:

- The Ministry of Finance in collaboration with the representative agency shall carry out the financial supervision over parent companies, single-member limited liability companies established by the specialize Ministry or assigned to be managed under its authority; compile an aggregate report on results of financial supervision carried out by the representative agency, the Board of Members of an economic groups and state-owned incorporations for submission to the Government;

- The Department of Finance in cities or provinces shall assist the provincial People’s Committee in the financial supervision and performance evaluation of production and business activities of enterprises and compile an aggregate report on results of financial supervision over enterprises established under the decision of the provincial People’s Committee.

View full text in Decree No. 87/2015/ND-CP of Vietnam’s Government, which takes effect from December 01, 2015.

Thu Ba

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