New Proposal On SOE Disclosure

14/09/2020, 04:56 AM

The Ministry of Planning and Investment is drafting a Decree of the Government on information disclosure of State enterprises; to build, update, manage and exploit the National Enterprise Database.

According to the Ministry of Planning and Investment, on September 18, 2015, the Government issued Decree No. 81/2015/ND-CP on information disclosure of SOEs. Accordingly, SOEs must disclose certain information related to their operations, such as: Reporting business results annually and the most recent 3 years; financial report; Reporting salary, bonus of the business, reporting unusual information.

However, after nearly 5 years of implementation, information disclosure activities of SOEs still have many limitations such as: Some SOEs' disclosure is still superficial. Voluntary information transparency has not been taken seriously. Responsibility to disclose information has not been focused. SOEs have not decentralized the authority, responsibilities and tasks of related individuals and divisions through internal regulations on information disclosure.

From the above problems and the above requirements, the review and formulation of a Decree to replace the Decree No. 81/2015 / ND-CP is necessary to achieve the following objectives: The enterprise conducts a favorable information disclosure. With the process of online information disclosure, the time for information disclosure is shortened, ensuring the timeliness and accuracy of information published by SOEs.

Specifically, the draft regulations: The information disclosure is done on the portal / website (Website) of the enterprise, the owner's representative agency and the business portal of the Ministry of Planning and Investment.

Regarding the periodic disclosure of business information: Enterprises must develop and publish various types of reports according to the form provided in the Appendixes to the Decree; publication deadline for each type of report. Particularly for financial statements, enterprises must publish 6-month financial statements and annual financial statements according to the law on corporate accounting.

Regarding the extraordinary disclosure: The draft Decree stipulates that enterprises must publish extraordinary information within 36 hours on their portal or website, portal of the Ministry of Planning and Investment and report to agencies. representative of the state owner upon occurrence of one of the events specified in Clause 1, Article 110 of the Law on Enterprises No. 59/2020 / QH14.

The Ministry of Planning and Investment is collecting people's comments on this draft at its portal.

Source: Bao Chinh Phu