Vietnam: Guidance on organization of draw to determine individuals obtaining the right to purchase public property

14:46, 20/02/2018

The Ministry of Finance of Vietnam issued Circular No. 144/2017/TT-BTC guiding Decree No. 151/2017/ND-CP of Vietnam’s Government elaborating the Law on Management and Use of Public Property.

According to Circular No. 144/2017/TT-BTC of the Ministry of Finance of Vietnam, selling of public property shall be performed in the form of public listing via or not via the Electronic trading system for public property. Particularly for the form of selling without not via the Electronic trading system for public property, the organization of the draw is done as follows:

- Within 2 working days from the date on which the price listing period expires, agencies assigned to organize the selling of public property are responsible for organizing draw to determine individuals obtaining the right to purchase public property.

- Draw tickets shall be complete registration forms of registering individuals contained in a sealed envelope which is deposited by the registering individuals in sealed containers of agencies assigned to organize the selling of public properties at the time of draw.

- At the draw, agencies assigned to organize the selling of public property shall assign their representatives to count the draw tickets to ensure consistency with the number of registering individuals and randomly select 1 draw ticket; the registering individual whose ticket is drawn (whose information on the drawn ticket shall obtain the right to purchase public property.

View more details at Circular No. 144/2017/TT-BTC of the Ministry of Finance of Vietnam, effective from February 15, 2018.

- Thanh Lam -

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