Vietnam: How is the “allocation of property of state-funded projects beyond the prescribed limits”?

Specifically, according to the Circular No. 29/2020/TT-BTC of the Ministry of Finance of Vietnam, the allocation of property of state-funded projects beyond the limits prescribed in Clause 1 Article 19 of Decree No. 63/2019/NĐ-CP is the allocation of property of a state-funded project to eligible individuals or units in excess of the prescribed limits in terms of areas (in respect of working offices and public service facilities), or quantity or prices (in respect of means of travel, machinery, equipment and other property).

Moreover, fines for violations against regulations on allocation and use of property of state-funded projects prescribed in Article 19 of Decree No. 63/2019/NĐ-CP of Vietnam’s Government are as follows:

The exchange of property of state-funded projects inconsistently with regulations prescribed in Clause 3 Article 19 of Decree No. 63/2019/NĐ-CP is the exchange of public property of an organization for the property of another organization or individual without permission from a competent authority.

The appropriation of property of state-funded projects prescribed in Clause 5 Article 19 of Decree No. 63/2019/NĐ-CP which will be penalized is the act of holding and using public property without permission from a competent authority if not liable to criminal prosecution.

The violation against regulations on use of property of state-funded projects for business, leasing, joint-venture or association purposes prescribed in Clause 6 Article 19 of Decree No. 63/2019/NĐ-CP shall be determined according to Clause 2 Article 6 of this Circular.

View more details at Circular No. 29/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from June 02, 2020.

Thu Ba

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