NA deputies voice concerns over incompetence and corruption

NA deputies discussed the lax management of state-owned enterprises, which has been the leading cause of corruption and waste of public money. Responsibility for Vinaline financial incompetence remains unclear Deputy Nguyen Xuan Truong said Vinashin and Vinalines were the worst examples of incompetence and corruption, "When Vinashin's business was in trouble, the government transferred some of the problems onto Vinalines. But it led to even more serious consequences." Head of NA Law Committee Phan Trung Ly said that from 2006 to 2010, the NA had proposed the restructuring of state-owned enterprises on several occasions, however the pilot programme hadn't been concluded before many new state-owned corporations had been established. Unable to control and manage the companies, it came as no surprise that a continual stream of bad news regarded incompetence and corruption continued to surface. "Because of the lack of transparent management we don't know who is responsible for the damaged dock that cost thousand of billions of VND that Vinalines bought, aside from who directly bought it. If the agencies responsible for this are not uncovered, serious wrongdoings will continue to happen in the future." he said. Deputy Tran Du Lich from HCMC requested detailed information on the state budget's funding for enterprises. He also mentioned about non-core investments by many enterprises still haven't been resolved. While Deputy Truong Thi Anh said the responsibility for monitoring the enterprises should be firmly placed on the Ministry of Finance, Deputy Vo Thi Dung also asked the government to explain in detail and clearly how national funds were being used by state-owned enterprises, in order to get to the bottom of what was causing such serious losses. Deputy Tran Du Lich said the government's fiscal measures should be reassessed in the context of slowing economic growth. The reduction in inflation might be worrisome because it meant consumer spending had greatly decreased. Lich said the decrease in the import surplus was because the country had stopped importing, not because the country was exporting huge amounts of goods. Lich said the government should support enterprises and bear the bad debt because if the banks are too cautious about issuing loans they might push more enterprises into debt and possibly bankruptcy. Deputy Le Thanh Van of Finance-Budget Committee also agreed with Lich. In 2009, the government had provided two bailout packages worth nearly VND1 million billion (USD48 billion), but inflation had continued to rise still because of weak capital absorption. Under the current fiscal policy, capital was too hard to access. Van said 4% economic growth in first four months was worrying. "We should reassess the fiscal policy or it will cause serious trouble." Forex News Travel to Vietnam tour to vietnam Tour Ghep Mien Trung Tour Trang Mat Du Lich He Gia Re yen sao hitech review hue tourism vietnam weight loss cute girl dac san hue how to solve rubik how to tie a tie how to be pregnant how to cv what is fashion trends visit vietnam
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