Ministry of Finance plans to supervise the finances of Vietlott, DATC, Bao Viet...

The Ministry of Finance has just issued a document seeking comments on the agency's plan to supervise the finances in 2023 of enterprises in which the State holds 100% of the charter capital and enterprises with State capital for which the Ministry of Finance is the owner representative.

The subjects of supervision are: Vietnam Debt Trading Company Limited (DATC); Vietnam Computerized Lottery Company Limited (Vietlott); Vietnam Stock Exchange (VNX); Vietnam Securities Depository and Clearing Corporation (VSDC); Bao Viet Group (BVH).

The Ministry of Finance will monitor 6 financial-related issues at Vietlott (Illustration photo: Hoang Ha)

Implementation methods include: direct supervision (direct inspection at the enterprise) and indirect supervision (monitoring and checking the enterprise's situation through financial reports, statistics and other reports as prescribed by law and by the owner's representative agency).

In which, the supervision of Vietlott is carried out by indirect supervision method. Accordingly, the supervision of Vietlott includes:

First , supervise the preservation and development of state capital in enterprises.

Second , supervise the management and use of capital and state assets at enterprises. Including capital investment activities for investment projects; capital investment activities outside the enterprise; capital mobilization and use of mobilized capital, bond issuance; asset management, debt management at enterprises, debt payment capacity of enterprises, debt to equity ratio; cash flow situation of enterprises.

Third , supervise the business activities of the enterprise. Including supervising the implementation of the production and business plan; supervising the results of production and business activities, and fulfilling obligations to the state budget.

Fourth , supervise compliance with laws on investment, management and use of state capital in enterprises.

Fifth , supervise the restructuring of state capital invested in enterprises, restructuring of capital invested by enterprises in subsidiaries and associated companies.

Finally , supervise the implementation of salary, remuneration, bonus, responsibility allowance and other benefits for employees, business managers, controllers, and representatives of the enterprise's capital according to the provisions of the Labor Code.

Source