Procedures for handling market infrastructural property invested and managed by the State in Vietnam

Procedures for handling market infrastructural property invested and managed by the State in Vietnam (Internet image)

On July 9, 2024, the Ministry of Industry and Trade (Hanoi, Vietnam) issued Decision 1825/QD-BCT announcing new administrative procedures in the field of market infrastructural property invested and managed by the State.

Procedures for handling market infrastructural property invested and managed by the State in Vietnam

1. Handling market infrastructural property managed by the province-level authority in Vietnam

(1) Procedure sequence:

- Step 1: The project investor (for newly constructed market infrastructural property), or the principal management unit (for market infrastructural property established under public ownership as stipulated in Article 106 Law on Management and Use of Public Property) submits a dossier of assets to the specialized agency for provincial-level market infrastructural property.

- Step 2: The specialized agency for provincial-level market infrastructural property coordinates with relevant local agencies and units to submit recommendations to the Provincial People's Committee for decision on asset allocation.

- Step 3: From the date the Provincial People's Committee's Decision on the allocation of market infrastructural property is issued, relevant agencies, units, and enterprises proceed with the handover and receipt of assets.

(2) Components and quantity of dossier:

- Proposal of the project investor/asset management unit for asset allocation to the management subject: 01 original copy;

- Decision on approving the construction investment project: 01 original copy;

- Proposal for asset allocation by the subject (in case it is intended to allocate the asset to a state enterprise or a public non-business unit): 01 original copy;

- List of proposed assets for allocation (name of asset, address, type of work, year of construction, year of use, area, number of trading points at the market, asset value, asset condition assessment – if any): 01 original copy;

- Acceptance record putting assets into use (for newly constructed assets): 01 original copy;

- Decision on establishing public ownership (for assets established under public ownership as stipulated in Article 106 of the Law on Management and Use of Public Property): 01 original copy;

- Completion documents (for newly constructed works): 01 copy;

- Other relevant documents (if any): 01 copy.

(3) Time limit for resolution:

- Within 60 days from the date of receiving the complete dossier, the specialized agency for provincial-level market infrastructural property coordinates with relevant local agencies and units to submit recommendations to the Provincial People's Committee for decision on asset allocation.

- Within 30 days from the date the Provincial People's Committee's Decision on the allocation of market infrastructural property is issued, relevant agencies, units, and enterprises proceed with the handover and receipt of assets.

2. Handling market infrastructural property managed by the district-level authority in Vietnam

(1) Procedure sequence:

- Step 1: The project investor (for newly constructed market infrastructural property), or the principal management unit (for market infrastructural property established under public ownership as stipulated in Article 106 Law on Management and Use of Public Property) submits a dossier of assets to the specialized agency for district-level market infrastructural property.

- Step 2: The specialized agency for district-level market infrastructural property coordinates with relevant local agencies and units to submit recommendations to the District People's Committee for decision on asset allocation.

- Step 3: From the date the District People's Committee's Decision on the allocation of market infrastructural property is issued, relevant agencies, units, and enterprises proceed with the handover and receipt of assets.

(2) Components and quantity of dossier:

- Proposal of the project investor/asset management unit for asset allocation to the management subject: 01 original copy;

- Decision on approving the construction investment project: 01 original copy;

- Proposal for asset allocation: 01 original copy;

- List of proposed assets for allocation (name of asset, address, type of work, year of construction, year of use, area, number of trading points at the market, asset value, asset condition assessment – if any): 01 original copy;

- Acceptance record putting assets into use (for newly constructed assets): 01 original copy;

- Decision on establishing public ownership (for assets established under public ownership as stipulated in Article 106 of the Law on Management and Use of Public Property): 01 original copy;

- Completion documents (for newly constructed works): 01 copy;

- Other relevant documents (if any): 01 copy.

(3) Time limit for resolution:

- Within 60 days from the date of receiving the complete dossier, the specialized agency for district-level market infrastructural property coordinates with relevant local agencies and units to submit recommendations to the District People's Committee for decision on asset allocation.

- Within 30 days from the date the District People's Committee's Decision on the allocation of market infrastructural property is issued, relevant agencies, units, and enterprises proceed with the handover and receipt of assets.

Refer to the detailed content in Decision 1825/QD-BCT, which comes into force in Vietnam from August 1, 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE