Gov’t Inspectorate to conducts 25 inspections in 2018
Updated : Wednesday, April 11, 2018 10:21 AM (GMT+0700)

TheGovernment Inspectorate (GI) will conduct 25 crucial inspections this year,including scrutiny of the central bank’s implementation of a restructuringproject in the past five years.

 
The State Bank of Vietnam - Photo: sbv.gov.vn

According to PlanNo.478/KH-TTCP issued last week by Chief Government Inspector Le Minh Khai, GIin the second quarter will inspect the responsibility of State Bank of Vietnam(SBV) in the implementation of the project on restructuring credit institutions(CIs) in combination with settling non-performing loans (NPLs) at CIs during2013-17 period.

SBV was entrusted toformulate the project, which aims to restructure CIs and settle NPLs on theprinciples of ensuring the interests of depositors and maintaining thestability and safety of the banking system as well as reducing the number ofpoorly performing CIs.

Overall solutions of therestructuring project include completing the legal framework, perfectingpolicies and mechanisms related to monetary and banks’ operations, improvingthe financial and business administration capacity of credit institutions andbettering inspections and supervisions over banks’ operations.

The project stresses theneed to improve SBV’s capacity to issue early warning of systematic risks andto prevent the risk of law violations of credit institutions and foreign banks’branches.

For bad debt settlementmeasures, the project requires SBV to intensify inspections and supervisions ofcredit institutions’ observance of rules on credit, safe operation and debtclassification.

Besides SBV, the ministriesof Industry and Trade, Science and Technology, Labour, Invalids and SocialAffairs, along with Home Affairs, will also be inspected in the second quarterof this year.

According to the plan, GIwill inspect the implementation of restructuring State-owned enterprises at theMinistry of Industry and Trade and their management and use of land.

The inspections will alsoinclude the observance of the law related to capital and assets, divestment andrestructuring at the Vietnam Tobacco Corporation.

At the Ministry of Scienceand Technology, GI will focus on inspecting funds for investment projects,besides observing the law on measurement, quality and standards.

GI will also carry outinspections related to the management and use of public land, constructioninvestment and natural resources exploitation in seven provinces of Bac Giang,Phu Tho, Quang Tri, Binh Dinh, Dak Nong, Kien Giang and Binh Phuoc.

Source:VNA

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