Auditors target 155 state enterprises, projects in 2011

TN News

Email Print

Vietnam's state auditing agency announced Thursday that it plans to examine a number of state-funded projects and 27 state-owned corporations and banks this year.

The State Auditor of Vietnam plans to examine a total of 155 corporations and projects, up 11 percent from last year.

State auditors will look into the balance sheets of major projects including Thu Thiem Bridge, Dung Quat oil refinery and Da Nang International Airport.

EVN, the state's utility firm, will be examined along with state mining group Vinacomin and shipbuilder Vinashin, which teetered on the verge of bankruptcy last year.

Chief Auditor Vuong Dinh Hue said it's necessary to make public how EVN and Vinacomin calculate their prices to see what cost factors in production need to be reduced.

"The power sector needs to try their best to reduce costs and cut unnecessary spending so that it does not have to hike prices too much," he said.

More Business News