Vietnam reviews salaries for state company officials

Vietnam will review salaries of senior officials at state-owned enterprises

Vietnam’s government said it would intensify monitoring salaries of senior officials at state-owned enterprises, news website VnExpress reported Monday.

The report said Deputy Prime Minister Nguyen Sinh Hung has ordered the Ministry of Labor to review payrolls at state enterprises over the past four years and check how much their senior managers and board members have been earning.

Based on the ministry’s findings, the government will make necessary adjustments to make sure salaries are set at the right level, preventing excessive payments and, at the same time, encouraging productiveness, VnExpress said, citing a government directive.

Vietnam’s government is tightening controls over state-owned enterprises. It plans to audit 27 state companies and commercial banks this year, including shipbuilder Vinashin, power utility EVN and mining group Vinacomin.

The Ministry of Finance is drafting regulations requiring state-owned enterprises to evaluate all their assets, including bank deposits and gold holdings. – Thanhnien

Tags: Vietnam companies, Vietnam enterprises, Vietnam SOEs

Posted by VBN on Jun 8 2011. Filed under Economy News, Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry