05 Principles for managing and using property at the Offices of the Communist Party of Vietnam from January 1, 2018

05 Principles for managing and using property at the Offices of the Communist Party of Vietnam from January 1, 2018 (Illustrative Image)

Article 4 of Decree 165/2017/ND-CP stipulates 03 principles for managing and using property at Communist Party agencies and public service providers of the Communist Party of Vietnam as follows:

1. All property formed in accordance with regulations are assigned to Communist Party agencies and public service providers of the Communist Party of Vietnam for management and use.

2. The formation of property at Communist Party agencies and public service providers of the Communist Party must be consistent with the assigned functions and tasks, standards, property usage norms, and the permissible sources of property and funds; adhere to the prescribed procedures and methods; property must be fully accounted for both in-kind and in value; property at high risk of damage due to natural disasters, fire, and other force majeure causes are managed financially through insurance or other legal means.

3.Pproperty at Communist Party agencies and public service providers of the Communist Party must be used in accordance with their intended functions, subjects, standards, norms, policies; maintained, and repaired as required, ensuring thriftiness, preventing waste, and combating corruption.

4. The exploitation of financial resources from property at Communist Party agencies and public service providers of the Communist Party of Vietnam must follow market mechanisms, be effective, transparent, and lawful.

5. The management and use of property at Communist Party agencies and public service providers of the Communist Party are subject to supervision, inspection, and auditing as prescribed by law and the regulations of the Communist Party; any violations of property management and use policies at Communist Party agencies and public service providers of the Communist Party must be promptly and strictly handled in accordance with regulations.

More details can be found in Decree 165/2017/ND-CP which comes into force in Vietnam from January 1, 2018.

Ty Na

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