Announcing the inspection results at Vietnam Feature Film Studio

The Government Inspectorate (GIA) recently announced its decision to inspect the implementation of Inspection Conclusion No. 447 and Inspection Conclusion (supplementary) No. 1412 of the GIA on the equitization of Vietnam Feature Film Studio.

At the announcement ceremony, Deputy Inspector General Dang Cong Huan said that the inspection conclusion at Vietnam Feature Film Studio was issued nearly 6 years ago.

However, many contents according to the inspection conclusion and the instructions of the Government leaders have not been implemented. Therefore, on March 28, the Prime Minister directed the Government Inspectorate to immediately conduct an inspection of the implementation of the inspection conclusion on the equitization of Vietnam Feature Film Studio.

On that basis, the Government Inspectorate established an inspection team to immediately inspect the implementation of the inspection conclusion on the equitization of Vietnam Feature Film Studio and implement the direction of the Government leaders on related contents.

Real Estate - Announcement of inspection results at Vietnam Feature Film Studio — *Some production workshops of Vietnam Feature Film Studio have been "closed" for a long time (Photo: Pham Tung).*

Accordingly, the Government Inspectorate has recommended that the Prime Minister direct the Ministry of Culture, Sports and Tourism to develop a plan and immediately implement the prescribed processes and procedures to allow the strategic investor, the Waterway Transport Corporation (Vivaso), to withdraw capital ahead of schedule.

Along with that, preside over working with new investors who fully meet the prescribed conditions and relevant units to carry out the processes and procedures for receiving and transferring Vietnam Feature Film Studio in accordance with the provisions of law.

At the same time, establish a Council to determine the brand value of Vietnam Feature Film Studio. After the results are available, re-determine the enterprise value and the shareholding ratio of each shareholder accordingly, ensuring compliance with the law.

Coordinate with relevant agencies to thoroughly resolve land-related issues, complete land use plans, and submit them to competent authorities for approval. Based on the approved land use plan, re-determine the enterprise value, taking into account the geographical location advantages of the buildings and land in accordance with the law...

TTCP recommends that the Ministry of Culture, Sports and Tourism organize a review, direct units to organize reviews to clarify responsibilities, and handle units and individuals for shortcomings, defects, and violations...

Regarding the handling after the inspection of the equitization of Vietnam Feature Film Studio, on April 6, Vivaso sent a document to the Prime Minister; the Government Inspectorate; the Ministry of Culture, Sports and Tourism proposing to resolve the problems at Vietnam Feature Film Studio in the direction of allowing this company not to divest capital as concluded by the Government Inspectorate in 2018.

If this proposal is not approved by the Government, Vivaso proposes to introduce a new investor to transfer shares in accordance with the conclusion of the Government Inspectorate.

Previously, on March 28, Deputy Prime Minister Le Minh Khai issued a document requesting the Government Inspectorate to immediately inspect the implementation of the inspection conclusion on the equitization of Vietnam Feature Film Studio and implement the direction of the Government leaders on related contents.

According to Decision 129, the inspection period is 10 actual working days. The inspection team consists of 4 members, led by Mr. Ngo Khanh Luan - senior inspector, Deputy Director of the Department of Supervision, Appraisal and Post-Inspection Handling, TTCP.

The decision clearly states that the Inspection Team will conduct an inspection of the implementation of the above two inspection conclusions and the direction of the Government leaders on post-inspection handling of the equitization of Vietnam Feature Film Studio at the Ministry of Culture, Sports and Tourism, Vietnam Feature Film Studio and related units .

Source