State-owned groups will be under scrutiny this year.

The team’s leader, Chairman of the National Assembly Economic Committee Ha Van Hien, told VietNamNet that this programme would involve the highest level of supervison over the operations of state-owned groups and corporations yet seen.

Under the programme, the National Assembly will examine the “business health” of state-owned groups, corporations, commercial banks and insurance companies which have over 50% state capital.

The supervision will include three steps: (1) evaluating state management, the use of state capital and assets at these organisations. The National Assembly will clarify the current enterprise and financial management mechanisms at these organisations, including the ownership-representation mechanism, decentralisation between the government, ministries, provincial and municipal People’s Committees, and the management boards.

(2) the implementation of state policies in the management and use of state assets. Supervisors will assess the capital scale, capital structure, financial ability, etc. of these organisations.

(3) supervisors will make suggestions related to policy amendments and solutions to improve the financial capability of and the efficiency of capital use at state-owned groups and corporations.

State-owned groups and corporations must submit reports to the supervision team by April 30. The team will make field trips to some organisations in May and June. Supervisors will report results to the National Assembly Standing Committee at the NA session in August 2009 and to the National Assembly at the year-end session.

Le Nhung