Deputy Prime Minister: Strictly handle violations in equitization of enterprises under the Ministry of Industry and Trade

The Deputy Prime Minister requested strict handling of economic and land violations and problems in the equitization of state-owned enterprises under the Ministry of Industry and Trade, following the conclusion of the Government Inspectorate .

This is the directive of Deputy Prime Minister Le Minh Khai that has just been announced by the Government Office . Accordingly, the ministries of Industry and Trade, Finance, the State Capital Management Committee at Enterprises and the Vietnam Oil and Gas Group (PVN), and localities must implement the recommendations of the Government Inspectorate in the inspection conclusion.

These agencies must strictly handle organizations and individuals who commit violations and thoroughly resolve economic and land-related problems, ensuring no loss of state assets. During the implementation process, if signs of criminal law violations are discovered, Deputy Prime Minister Le Minh Khai requested that they be transferred to competent agencies for handling according to regulations.

The Government Inspectorate is fully responsible for the contents of the conclusions and recommendations in the inspection conclusion dated July 7, ensuring accuracy, objectivity, compliance with the law, and preventing loss of State assets. The Deputy Prime Minister assigned this agency to implement its authority in recommending the transfer of information on a number of violations to the investigation agency and learn from experience when issuing inspection conclusions late.

Previously, according to the inspection conclusion on the restructuring of state-owned enterprises under the Ministry of Industry and Trade in the period 2011-2017, the Government Inspectorate said that the equitization of state-owned enterprises under the Ministry of Industry and Trade in this period was slow, and the value was not determined accurately, leading to thousands of billions of VND not being fully calculated.

Some enterprises did not complete the approved project, handled finances, debts, and land in violation of regulations; the proportion of State capital sold was too low compared to the plan, and strategic investors could not be selected. At the same time, land management associated with equitization was still entangled, not strict, and equitization settlement was slow.

For example, at the Vietnam Oil and Gas Group (PVN), the consulting unit incorrectly established the formula according to the regulations of the Ministry of Finance when determining the enterprise value for the equitization of the Ca Mau Petroleum Fertilizer Company (PVCFC), leading to the actual value of the State capital being short by more than VND261 billion and more than VND79 billion in exchange rate difference profit.

From these violations, the Government Inspectorate recommended that the Prime Minister direct relevant ministries, branches and units to handle more than VND 2,338 billion; transfer violations in land management and use at Fococev in Khanh Hoa and Dak Lak to the investigation agency of the Ministry of Public Security.

Mr. Minh

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