Vietnam State Audit uncovers wrongdoing by state firms, banks

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The State Audit has uncovered signs of lawbreaking by some partly state-owned companies and by banks, including foreign ones, and handed over the investigation to the Ministry of Public Security and State Bank of Vietnam, an official said Tuesday.

 

Le Minh Khai, deputy chief of the State Audit, said ministry investigators would look into losses at Song Da Finance Joint Stock Company and Saigon Sea Products Import Export Joint Stock Company (Seaprodex) and unsecured lending by two branches of the state-owned Vietnam Bank for Agriculture and Rural Development (Agribank).

 

The State Audit also found some banks – Chinatrust, HSBC and Agribank – breaching the foreign currency sales limits in transactions with the Vietnam National Chemical Group, and the central bank would investigate them, he said.

 

The State Audit said it would make routine audits of 185 ministries and agencies this year focusing on management efficiency and use of public funds. 

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