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New disclosure rules on the way
State-owned and foreign-invested enterprises will have to report their production and business activities to the General Statistics Office (GSO), according to a draft on statistical regulations submitted to the Prime Minister.
The draft regulates that State-owned businesses including economic groups and their subsidiaries as well as FDI enterprises will have to submit monthly reports to the GSO and provincial People's Committees.
Details including taxes, overheads and investments will have to be included in the reports as well as employment issues, science study activities and waste treatment work.
The office says the draft aims to collect and classify figures for both national and provincial level statistical targets.
The work will also help State agencies map out strategies and policies for the country's socio-economic development.
It will also help to renew Viet Nam's statistics system which was approved by the PM, the GSO says.
The office adds that Statistics, Business and Investment Laws regulate enterprises to report their statistics.
However, so far enterprises have failed to submit sufficient data due to a lack of established reporting systems.
Moreover, the systems are not up to the current demands of today's world, causing difficulties for State agencies in providing an overall view of the state of the country.
The office says it has a shortage of data which it relies on for macro economic management.
The Director of State-owned Viet Nam Coal and Mineral Group (TKV)'s Red River Energy Company, Nguyen Thanh Son says statistical reports in the country are often unilateral.
"As for our company, we are in need of technical statistics while current reports provide mainly economic figures," Son said.
He adds that time is a big issue because compiling the reports is very time consuming.
vietnamnews
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