SOEs told to publicly disclose business information

Update: May, 23/2017 - 09:00
Only 38.8 per cent of State-owned Enterprises made public their business information on the Ministry of Planning and Investment’s portal last year. — Photo
Viet Nam News

HCM CITY — The HCM City People’s Committee has ordered all State-owned enterprises (SOEs) with 100 per cent charter capital owned by the State to fully publish information about their activities.

The request applies to all controlling, parent-subsidiary and sole-member limited liability companies in the city.

The move by the city was part of Deputy Prime Minister Vương Đình Huệ’s request to ministries, departments and local authorities to instruct businesses to strictly follow Government Decree 81 dated September 2015 on information disclosure for State enterprises.

Decree 81 stated that companies must disclose information on: their development strategies; five-year production and business plans; annual production and business plans; annual production and business reports and reports on the previous three years; implementation of CSR, or corporate social responsibility, if appropriate; annual renewal and restructuring; and administration and organisation, as well as financial reports and reports on salary and bonuses.

The information will be disclosed on websites of enterprises and agencies representing the state owner and on the enterprise information portal of the Ministry of Planning and Investment (MPI).

According to a recent report by MPI, only 241 out of 620 SOEs have sent their reports to the ministry to publicise their information on MPI’s business information portal, accounting for 38.8 per cent of the total. — VNS