Rules for management and use of public property in Vietnam

According to the Law on Management and Use of Public Property 2017 of Vietnam, rules for management and use of public property include:

One, the State shall authorize management and use of each public property corresponding to each organization and individual in accordance with this Law and relevant law.

Two, public property invested by the State shall be managed, operated, maintained, repaired, statistically and financially accounted for both exhibits and value; highly risky property due to natural disasters, fires and other force majeure events shall be managed through insurance or other instruments as regulated by law.\

Three, public property are resources that shall be inventoried, prepared statistics on exhibits, provided information in line with nature and characteristics of property; managed, protected and operated according to the planning and plans in order to ensure cost-effectiveness and lawfulness.

Four, public property serving management and provision of public services and assurance of national security shall be used cost-effectively for the right purposes, utility, subjects, standards, norms and policies as prescribed by law.

Five, use of financial resources obtained from public property shall be subjected to market mechanism, effectiveness, transparence and lawfulness.

Six, management and use of public property shall apply the principle of transparency and ensure thrift practice, waste combat, corruption prevention and control.

Seven, management and use of public property shall be monitored, inspected and audited; any violations against management and use of public property shall be promptly and strictly handled according to regulations of law.

View more details at the Law on Management and Use of Public Property 2017 of Vietnam, effective from January 01, 2018.

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