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Sunday, November 27, 2022

SAV to audit VND350 trillion aid package

By Van Phong

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HCMC – The State Audit of Vietnam (SAV) will audit a relief package worth some VND350 trillion for the country’s economic recovery and development in 2023.

The audit is aimed at assessing the efficiency of the Government’s policy for the economic recovery and growth program.

SAV has sent its 2023 audit plan to the National Assembly. Accordingly, 31 ministries and agencies, and 59 localities will be subject to the audit.

According to the Ministry of Planning and Investment, the disbursement of the aid package has reached VND61 trillion, or some 17.5% of the total. Nearly VND10.6 trillion was disbursed for preferential credit programs implemented by the Vietnam Bank for Social Policies.

Over VND3.5 trillion was used to support more than five million workers in paying for their boarding house rentals, while the disbursement of the financial aid package with an interest rate discount of two percentage points for businesses totaled VND13.5 billion.

Nearly VND40 trillion was disbursed to compensate for reduced value-added and environmental protection taxes on fuels.

Apart from the economic recovery and development program, many major projects, including the western North-South expressway in the 2017-2020 period and the first phase of the Long Thanh International Airport, among others, will be audited.

Besides, the State Audit of Vietnam will conduct 16 audits at the State Bank of Vietnam, 10 State-run groups and corporations and five banks.

SAV will focus on auditing financial reports, the use and management of State assets and funds in 2022, divestment, equitization and outbound investment at the Vietnam Oil and Gas Group, Vinatex, the Vietnam Rubber Group and the Airports Corporation of Vietnam.

As for banks, SAV will audit the management of monetary policies, the restructuring of credit institutions and the handling of bad debt at the Vietnam Bank for Social Policies, VietinBank, BIDV and SaigonBank.

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