PM Calls for Regular Submission of Statistical Reports

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Dec. 3 – Vietnam’s prime minister has approved a new regulation that will make it mandatory for state-owned enterprises (SOEs) and foreign invested companies and projects to issue regular statistical reports.

Following Decision 77/2010/QD-TTg, wholly state-owned companies, state-owned corporations and their subsidiaries, and joint-stock and limited companies with 50 percent of their charter capital government financed all fall under the term SOE for the purpose of this regulation.

Additionally, companies and projects operating in Vietnam with at least 10 percent foreign ownership of capital must also issue regular reports.

Companies that meet these requirements and are also involved in the electricity, gas, information and communication, mining, processing, real estate, trade and services, waste treatment, waste water, or water supply industries must report their net revenue targets and output numbers of their products on a monthly basis.

Those operating in the agriculture, construction, fisheries, forestry, investment, or services for foreign customers sectors are required to report their targets for production value, revenue from providing services, and investment capital on a quarterly basis.

In addition to the industry-determined monthly or quarterly report, all companies and projects must submit a report every six months listing current employees and their salaries. Yearly reports must also be submitted providing a business profile and including business performance figures such as revenue, taxes, and fees.