OO~hH n~H~~~ VOl NGAN HANG Cacthutl,lCgiaovontrongcacTCTNha nuaccuanuacta cOnn~ngneve hinh thercva c6 tlnh chat hanhchfnh,kern hi$Uquado d6 can dUeJc doi mai can ban.Trongm(>tTDKD,congty m~ la m(>t congty kinhdoanhtai chfnh,kiem soatcaccongty conthongquavondau tutrongmoicongty thanhvien.Trong mQtsotruangheJp, congty m~cOngc6 cacho~td(>ngkinh doanhkhacrieng cuabanthann6.DecautrUc"m~- con" dUeJc hinh thanhtheo dung ban chat kinhte cuan6thi c6ngty m~phaithl,l'c 51!dau tu von vao cac congty vit'm.Congty m~ phai thl,l'csl,l'nam quyensa hrruve von a macd(>du de chi phoi cac thanhvien TDKD M(>tm~t,congty m~dUeJc quyendautu vonvao cac cong ty thanhvien M~t khac,caccongty thanhviencOngdUeJc phepdautu cheoIannhaunhungmoi congty thanhvienvanduytri daydutu cachphapnhand(>cI~pcuan6 Th((tu:CantieptljCxaydvng,hoan thi~ncacquycf!nhphap/y,nhatla cac che d(>ve tai chfnhc6 lien quanden TDKD.QuanIy va kiemsoat TDKDla m(>tITnhvl,I'choantoanmaidoivainuac ta,dod6calidautu nhieuhanchovi~c nghiencau, hoanthi~n h~ thongvan ban phaplu~t can thiet.Candua vao cacb(>lu~tnhcrngquyph~mdieuchinh quanh~ phapIycuacacTDKDva cac chu the TDKD.Trongh~ thong nhrrngquyph~mphaplu~tc6lienquan can xacdinhr6 moiquanh~ va dja vi phapIycua3 lo~ichuthe:TDKD,cong ty m~va caccongty Nhrrngquydinhphaplu~tlienquan den cautruccongty m~- congty can phaibao hamnhrrngvande quan trQngnhat,d~cbi~tla ched(>tai chfnh, baocaotaichfnh,ketoanvakiemtoan, thue, changkhoan,dau tu, giao dich thuangm~itrongva ngoait~p doan, Cac nuaccongnghi~ppMt trien nhu My,Nh~tBan,Australia,Singaporedeu c6nhrrngquydinhCI,ItheveTDKD,moi quanh~ girra3 nh6mchuthe (congty m~,congty convaTDKD).Nhrrngquy dinhchitiet ve ketoanva kiemsoattai chfnhdUeJc andjnhtrongh~thongTieu chuanketoanvataichinh(AASB),dien hinh la AASB-1024(Australia).Can nghienClruthamkhaotrongqua trinh so~nthaoh~thongphaplu~tcuanuac ta, de c6 nhrrngche djnhtuangdong vai lu~t quoc te So sanh vai khung toan xay dl,l'ngva ban hanh.De thuc day qua trinh hoanthi~n h~ thongke toan cua cac TCT Ianc6 c8Utruc t~p doanthi can xay dl,l'ngdUeJc h~ thong chuan ml,l'cke toan va nhrrnghuang danve nghi~pvl,IketoanheJp nhat.Ca€ Mo caotai chinhhCJp nMt (CFS)cOng can dUeJc quy chuanhoa,kemtheod6 la h~ thong thuyet minh bao cao tai chfnh phu hqp vai thong 1$quoc te Cac bao cao taj chfnhhqp nhat theo lieu chuanke toanquocte se c6 tac dl,lng rat Iantrongquatrinhh(>inh~pquocte cuacacdoanhnghi~pVi~tNam.Dayla nhlIngyeuto machUngta conthieuva can dUeJcUch cl,I'cthl,l'chi~n nhrrngna'!1tai B(>Taichfnhva H(>iKe toanVi~tNamla nhrrngcaquanc6 vai tro chuyeutrongquatrinhd6 Tien trinh hinh cac doanh nghi~ptheomohinhcongty m~- cong ty va cac TDKD Ian m~nhc6 y nghTahetsacquantrQngdoivaisl,l'pMt phap Iy hi~n hanhap dl,lngcho cacTCT triencuanenkinhte nuacta.Trongqua 91 va TCT90 a nuac ta, r6 rang trinh d6, vai tu cachnha cungcap tin nhieudiembatc~pcantieptl,lCnghien dl,lngvatrungtamthanhtoan,cacngan Clruva hoanthi~n hangthuangm~ic6m(>tvaitrod~cbi~t Th(( n~m:Cannhanhchongban quantrQng.Do d6, cungvai quatrinh Mnh cac quy cf!nhphap/y ve ke toan pMt triencact~pdoankinhdoanh,cac hCJp nMt dongthaivai vi~choanthi~n ngan hangthuang m~i can chu d(>ng h~thongquyph~mphaplu~tlienquan thamgiavaovi~cxaydl,l'ngh~thongke den ca che quanIy tai chfnhcua cac toan heJpnhat nhamdap ang tot nhat TDKD.Hi~nnay,a cacnuacphattrien nhucautin dl:mgva kiemsoatc6 hi~u da c6 cac quy ph~mva h~.thongtieu qua cac t~p doan.kinh doanhtrong chuanve M toan cac hi~ph(>ike tuanglai.8 DfioTO'TittlCTIEPVAOVier "AM N~~4J ~u hu cau ve van cangtrd PGS.,TS Nguyl;nThj Thu Thao* nen cap bach doi vai cac mtac dang phat trien, van th~p ky qua, dau tl1 tn,tctiep nl1ac de lam the nao co dl1tphan tfch cl,J'cvao cong cu(>c dl1i,dong thai gop m(>t phan Uchcl,J'ctrong chuyen dich co cau kinh te, tang kim ngi nh~p kinh te cua Vi$t Nam vai khu vl,J'cva the giai DQihc Kinhte Quaedon 61 OOffilnlH fI~HII~~ VOl NGAN HANG theo d!a chi cua cac nha dau tLtnhLttrem cling chua I Ho~t d9ng dau tLttrljC tiep nLtdc ngbai vao Vi~t Nam k~ tlt nam 1997 tra I~i day c6 xu hLtdng giam (ca ve ILtt;1ngvan va quy mo dlj an), dieu khien chung ta can nghien cltu xem xet nguyen nhan chu quan, khach quan d~ c6 nhiing d9ng thai tfch cljc nham thu hut 6n d!nh nguon FDI (Xem bang 1) phan anh dung chu cua cac nguon van Vf dl,l eac t?~ doan HSBC Holdings (Anh), ABB (Thyy cua Anh thong qua cong ty d Singapore d~ dautv vao Vi~t Nam Ho~t d9ng cua cac doanh nghi~p c6 van tlt nguon FDI da c6 nhiing d6ng g6p dang k~ ho~t Q9n9 xuat - nh~p kh~u va n9P Ngan sach Nha nLtde(Xem bang 2) Theo soli~u trembang, chung ta thay nguon FDIvaa Vi~t Nam tu nam 1991, nhLtngden nam 1996, moibat dau d6ng g6p vao ngan sach chu trLtdngmi~n thue cho cac doanh nghi~p c6 van nLtdCngoai nhiing nam dau ho~t d9ng; nhiing nam sau, thu n9P ngan sach gia tang dang k~ cac doanh nghi$p da ket thuc giai do~n mi~n giam thue Bang1: S61i~u thu hUtFDIvao Vi~tNamtrong yang 10 nam tro I~iday (FDIdLt~ccap phep -chll'a k~dl/an Vietsopetro) Nam So dlfan Van dang Quy mo (tr ky (tr USD) USD / dlj an 1993 269 2.900,0 10,78 1994 343 3.765,6 10,98 1995 370 6.530,8 1.Q5 1996 325 8.497,3 26,15 1997 345 4.649,1 13,48 1998 275 3.897,0 14;17 1999 311 1.658,0 5,04 2000 371 2.012,4 5,2 2001 523 2.536,0 4,85 2002* 751 1.527,2 2,03 Di~n) thong qua chi nhanh"cua he;> d Hongkong,Cong ty Unilever I I Tuy nhien, nhin vao so li~u bang 1, ta nh~n thay nguon FDI tu 1997 bat dau ehiing I~i va giam sut lien tye vao nhiing nam sau d6, nguyen nhan Cdban anh hLtangcua khung hoang tai chfnh khu vljc chau a, tren 67% FDI vao Vi~t Nam tlt khu vljc nay, d6 cac nLtdcASEAN chiem gan 25%, cac nLtdcva lanh tho thu9C khu vljc Dong - Bae A nhLtNh~t Ban, Han Quae, Nguon:NiengiamthOng kenam2001 *Nam2002theadlfbaacua86K€haachva Dautlf Tfnh den het nam 2002, hdn 700 cong ty thu9.c 63 nLtdcva vung lanh th6 da c6 dlj an Gau tLttrljCtiep t~i Vi~t Nam Neu tfnh theo van dang ky cap mdi t6ng FDI vao Vi~t Nam thai ky qua thi c6 gan 67% tlt cae nUdc khu vljC chau A; 20,4% tlt cac nLtdcchau Au v~ 12,6% tu cac nLtC!.~chauMy Quan sat SQli~uthong ke ~ Dai Loan chiem gan 31% Khicae nLtdcnay lam VaG tinh tr~ng khung hoang, cac nha dau tLt rdi vao tinh tr~ng kh6 khan ve tai chfnh, kha nang dau tLtra nLtoe ngoai giam sut, cac nha dau tLtphai xin hoan vi~c thlfe hi$n dlj an, hay m9t so cong ty dang thai ky I~p ke ho~ch ciliu tLtra nude ngoai mat di kha nang thlfe hi$n ke ho~ch da d!nh Ben c~nh d6 slj c~nh tranh thu hut FDI cua cac nLtdctrong khu vljc cang gay gat, d~c bi~t Trung Quoc tham gia vao WTO da anh - - I hLtang tdi SUc thu hut cua moi trLtang dau tLtt~i Vi~t Nam (dieu th~ hi$n r6 I I I net a Slj giam sut nguon FDI nam 2002).Tacd9ngcua nhiing nguyen nhan khaeh quan den xu hLtdng bien d9ng cua FDI thai gian qua la khong nho, I nhLtngc6 th~ n6itac d9ng cua nhung nguyen nhan ~ong - khac thLtong giai do~n dau den Anh:MQnhDOng nhiing nam 1997 PMn XIldng san xuat gidy cua m9t doanh nghi~p co vein ddu tu nude ngoi,; tt;d Khu cong nghi~p Song Than Binh Duong - 62 nLtdCI~idong vai tro chu yeu Nguon FDI d6 vao nLtdc ta cao ::t '- -'J!~ CIJiNGAN MNG - &6 NAM 2004 OO~fiI\IHr fiI\~IHIII~fP> VOl NGAN HANG Bang 2: Tc>nghc;1pket qua ho~t dQng cua khu Vl!cco nguon FDI (Tinh den 31 thang 12nam 2002) Chitieu Thaiky 1991- 1995 1996 f)on vi:Tri~uusa 1997 1998 1999 2000 2001 2002 Doanh thu 4.106 Xuat khu 1.230 920 Nhp khu 2.382 2.042 2.890 2.668 3.382 4.359 4.984 6.500 N9P NSNN 2.800 3.955 4.380 5.711 7.921 8.200 9.000 263 1.790 1.982 2.590 3.320 3.673 4.500 315 317 271 324 373 472 Nguon:v~ QUEm Iy dl,lan - Be?Ke hOng che va Sif phat trien cua th! truang trlfc tiep den chi phi, rui ro bien nuac Tuy nhi€mvaG nhlJ'ng d('mgty gia na~ ke ti~p d~ tien,.b(> cai ",cac~ ch,?mI,?Iva nhung bal hQcthat b,?1 duc;:!c duc rut tlt kinh nghi$m cua cac nha dau t~ t,?iVi$t Nam m(>tvai nam gan day da lam giam sU'cc,?nhtraoh cua moi truang dau tu, lam nhyt chi cac nha dau tu khien hQkhong yen tam dau tu vao Vi$t Nam - SI,Iap d~ng chinh sach phan bi~t doi xiJ, khong binh d~ng moi linh vuc gilJ'acac nha dau tu tr~ng nua~ va dau tu nuac ngoai, gay kho khan cho cac nha dau tu, nhu chua dUdc tu phat hanh co phieu de huy' do~g van, cac loai cu'ac phi, gia dat dai, thue th'u nh~p ChU~~ ta :° the' nhin n~~n dan,h gla nh~.f! hf:l:! che an~ hU'C1~.9trllC t!ep ~en thu h~t ng~!!n ~DI vao V/~t Nam tren nhleu mf:lt: - Caeyeu to kinh te cua nl./dcta v§n kem hap d§n, d$Cbi$t doi vai nhlJ'ngnganh khuon kho d$c thu Nha nuac quan Iy nhu vien thong nang luc;:!ng sif tham gia cua dau tu Vi dy nhLtt,?mdCtngho$c khong cap giay phep da!Jtu doi vai cac dlf an thu(>ccac linh vlfC nhu: san xuat thep, xi mang, cap nLtaC theo hinh thU'c BOT, san xuat xe thong dyng dUKe ho,?chva dau tu) FDI vao Ho Chi Minhva Ha N(>i chiem 49,41% tong FDI dau tu vao cac d!a phudng " ca nLtac Doi chieu tren tong the cac vung cua ca nuac phan Ian cac dlf an FDI nam cac tinh phia nam vai so van dang ky chiem gan 66% tong so FDI vao Vi$t Nam, cac tinh phia Bik chi nh~n dLtc;:!c 22,4% va cac tinh mien Trung la 11,6% NhLtv~y mU'cchenh I$ch gilJ'a cac vung ve thu hut FDI hi$n rat Ian + Theo cd cau nganh, n~on FDI vao nLtaC ta chu yeu t~p trung vao linh vlfC cong nghi$p tai 52%, cac nganh d!ch vy chiem gan 38%, linh vlfc nong nghi$p, thuy san du chung ta da co nhlJ'ng chinh sach u'U dai, song FDI dau tLt vao linh VlfC van mU'c rat thap 10% - Chuyen giao cong ngM chl./a dl./(Jc m~c tieu mong muon cong ngh$ chuyen giao cua hau het dlf an nguon FDI tMi gian qua chLta co cong ngh$ goc, ham IUcthe h$ nhlJ'ng nam 1950 - 1960 dtso trLtanghc;:!p mat dan Ic;:!ithe, d$C bi$t so vai va bao tieu san ph~m, hQ da su phaigiai quyetnhlJ'ngvan de bU'c TrungQuoc NguonIIfClac d('>ngco dyng thu do,?n nang gia nguyen li$u xuc nLtacbu('>cphai thay doi chuyen mon cao it, Cd so h,? dau vao, giam gia san ph~m dau chinh sach, lam dao I(>ncac phLtdng tang Vi$t Nam noi chung da dLtt cach h va can b(> phl,l trach xem xet, cac h(>idong noi tren a m(>t so TCTD doi mang tinh hinh Thci'nam, nang cao chat ILftb(>ph~n can b(> tham d!nh va tin dl,lng a m(>t so tham d!nh tren CCISOdoi mdi dong ngan hang chLfa dLfcac khau dao t90 boi dLfong can chuyensau va co h$thong, chLfadu b(>,hoan thi$n quy che, quy trinh va kinh nghi$m can thiet va 19itrong cach thuc to chuc vi$c tham d!nh, tinh tr9ng qua tai (phai xem xet, quyet d!nh cho yay theo hLfdng theo doi khoi ILf lien quan, cac yay hay khong cho yay TCTD nen nghien cLtu thlr nghi$m Thci'sau, tiep tl,lC nang cao chat m(>t so bi$n phap dang dLf ... nguon FDIvaa Vi~t Nam tu nam 1991, nhLtngden nam 1996, moibat dau d6ng g6p vao ngan sach chu trLtdngmi~n thue cho cac doanh nghi~p c6 van nLtdCngoai nhiing nam dau ho~t d9ng; nhiing nam sau, thu n9P... ngbai vao Vi~t Nam k~ tlt nam 1997 tra I~i day c6 xu hLtdng giam (ca ve ILtt;1ngvan va quy mo dlj an), dieu khien chung ta can nghien cltu xem xet nguyen nhan chu quan, khach quan d~ c6 nhiing... Nguon:NiengiamthOng kenam2001 *Nam2 002theadlfbaacua86K€haachva Dautlf Tfnh den het nam 2002, hdn 700 cong ty thu9.c 63 nLtdcva vung lanh th6 da c6 dlj an Gau tLttrljCtiep t~i Vi~t Nam Neu tfnh theo