Improve the effectiveness of monitoring state capital investment in enterprises

Improving the effectiveness of financial supervision at state-owned enterprises.

According to the Directive, in the past time, the implementation of Decree No. 87/2015/ND-CP dated October 6, 2015 of the Government on supervision of state capital investment in enterprises; financial supervision, performance evaluation and disclosure of financial information of state-owned enterprises and enterprises with state capital; supervision of state capital investment in enterprises; financial supervision, performance evaluation and enterprise classification has achieved many results. Decree No. 87/2015/ND-CP and guiding documents have clearly stipulated the subjects, contents, methods of organizing supervision of state capital investment in enterprises; financial supervision, performance evaluation and enterprise classification. The processes, procedures, capital investment supervision and financial supervision have been seriously implemented by relevant agencies, basically meeting the requirements on content, time limit and authority. The biannual and annual assessment reports of enterprises, of the Owners' Representative Agencies and the summary reports of the Ministry of Finance have built an overview, providing practical solutions and recommendations for the Government and the Prime Minister to direct the supervision of state capital investment in enterprises and the financial supervision of enterprises under their management to ensure timeliness and effectiveness.

In addition to the achieved results, the supervision of state capital investment in enterprises, financial supervision, performance evaluation and disclosure of financial information of state-owned enterprises and enterprises with state capital still have limitations, such as: some Owner Representative Agencies have not implemented the reporting regime within the prescribed time limit and content; implementation of state capital investment in enterprises does not ensure the scope, order and procedures for state capital investment in enterprises; late delivery, slow evaluation, failure to classify enterprises in the decision to assign annual production and business plans to evaluate and classify enterprises; failure to disclose financial information as prescribed.

The main reason for the above situation is that some representative agencies of owners and enterprises have not properly and fully exercised their powers and responsibilities in supervising state capital investment in enterprises; supervising finance, evaluating performance and publicizing financial information according to regulations; the organization of supervision and publicizing financial information has not met the requirements; there are no sanctions to ensure effectiveness and efficiency.

To promote and improve the effectiveness of monitoring state capital investment in enterprises; financial monitoring, performance evaluation and disclosure of financial information of state-owned enterprises and enterprises with state capital according to regulations, the Prime Minister requests:

Closely monitor and warn businesses showing signs of financial insecurity.

The Ministry of Finance shall preside over and coordinate with relevant ministries and branches to monitor the situation of state capital investment in enterprises; closely monitor the financial situation of the Owner's Representative Agencies to ensure compliance with regulations; proactively urge the Owner's Representative Agencies to prepare and submit the Report on the situation of state capital investment in enterprises; and report the results of financial monitoring to the Ministry of Finance to ensure full content and on time.

Synthesize and report to the Government and the Prime Minister on the monitoring of state capital investment in enterprises; Report on the results of financial monitoring, evaluate the performance and classify enterprises, and the situation of enterprises performing public service tasks assigned by the Owner's representative agencies within the deadline.

Assess compliance with regulations on scope, process, procedures, authority, implementation of rights and responsibilities in state capital investment activities in enterprises of the Owner's Representative Agencies, and report to the Prime Minister for handling according to law in case of detected violations.

The Ministry of Finance recommends that the Government and the Prime Minister handle according to law the responsible persons of the Owner's Representative Agency and enterprise managers who do not comply with the reporting regime; do not comply with the recommendations and directions of the Owner's Representative Agency and the Ministry of Finance.

Proactively review existing problems, difficulties and issues arising in practice, promptly report and propose to the Government and the Prime Minister appropriate and effective solutions, including amending and supplementing relevant current legal regulations if necessary to improve the effectiveness and efficiency of the management and use of state capital invested in production and business at enterprises and the supervision of state capital investment in enterprises; supervise finance, evaluate the performance and publicize financial information of state-owned enterprises and enterprises with state capital.

Evaluate and warn businesses showing signs of financial insecurity, respond to business recommendations and proposals.

The owner's representative agency is responsible before the law for decisions on investing state capital in enterprises.

The owner's representative agency reviews the scope, order and procedures for deciding on additional state capital investment in enterprises to ensure compliance with regulations; is responsible before the law for decisions on state capital investment in enterprises.

The organization properly and fully implements the rights and responsibilities of the Owner's Representative Body in supervising capital investment, financial supervision, evaluating performance and classifying enterprises for enterprises assigned to manage; assigning targets on time, with sufficient content according to regulations as a basis for evaluating performance, classifying enterprises and disclosing information.

Seriously implement the preparation and issuance of financial supervision plans for enterprises under its management; proactively organize the implementation of the issued plans; seriously implement the regime of preparation and reporting on the state capital investment situation in enterprises; report the results of financial supervision every six (06) months and annually to the Ministry of Finance within the prescribed time limit and with full content. In case of non-compliance, the Owner's Representative Agency shall be responsible to the Government and the Prime Minister.

Strengthen supervision of additional state capital investment in enterprises and the management and use of state capital in enterprises; be responsible to the Government and the Prime Minister for the management of state capital invested in enterprises (including state capital invested in enterprises in previous years); promptly report and propose solutions to the Government and the Prime Minister in cases where the actual capital use efficiency is lower than the Project or state capital invested in enterprises is used for the wrong purpose.

Strengthen financial supervision and evaluate the performance of enterprises; promptly warn and direct enterprises to take measures to prevent and overcome risks and weaknesses; propose measures to rectify and handle violations in financial management of enterprises; report to the Government and the Prime Minister for handling according to the provisions of law for violations.

At the same time, consider responsibilities and decide on disciplinary action against individuals and organizations involved in failing to properly, fully and promptly implement the contents of corporate financial supervision under the duties of the Owner's Representative Agency...

Enterprises must improve compliance with legal regulations in the management and use of state capital and assets for investment.

The Prime Minister requested state-owned enterprises and enterprises with state capital to enhance their responsibility in complying with legal regulations in managing and using state capital and assets invested in production and business at enterprises.

Prepare and submit reports to serve the monitoring, evaluation of performance and classification of enterprises by the Owner's Representative Agency and the Ministry of Finance according to regulations; seriously publicize information, make transparent the financial situation of the enterprise and fully and promptly implement the instructions and recommendations of the Owner's Representative Agency and the Ministry of Finance.

Phuong Nhi

Source: https://baochinhphu.vn/nang-cao-hieu-qua-cong-tac-giam-sat-dau-tu-von-nha-nuoc-vao-doanh-nghiep-102250421165347836.htm