In some stages, public property is sold or liquidated by competent state agencies. So what are the regulations on the sale of public property of state authorities in Vietnam?
Article table of contents
Regulations on the sale of public property of state authorities in Vietnam (Source: Internet)
1. What is public property?
According to Clause 1, Article 3 of Vietnam's Law on Management and use of public property 2017, public property” is property under public ownership and managed by the State, including:
- Public property serving management, provision of public services, maintenance of national security for organizations and individuals;
- Infrastructural property serving national and public interests;
- Property established under public ownership; public property of enterprise;
- Money in state budget, non-state budget financial funds, foreign exchange reserves;
- Land and other resources.
2. Sale of public property of state authorities in Vietnam
According to Article 43 of Vietnam's Law on Management and Use of Public Property 2017, the sale of public property at state agencies is as follows:
- Public property shall be sold if:
+ Withdrawn property is offered for sale;
+ A state authority assigned to use public property no long uses or less uses due to change in organizational structure, functions, tasks or other causes in which the property is not withdrawn or transferred;
+ Management and use of public property are rearranged;
+ Public property is liquidated;
- Public property shall be sold in the form of an auction, excluding the cases of selling public property with low value when the price listing is made public or assigned sale as prescribed in regulations of the Government.
- Authorities assigned to manage public property specified in Clauses 1, 2 and 3 Article 19 herein or state authorities having property for sale shall make the sale of property in accordance with regulations of law.
3. Authority to decide on the sale of public property in Vietnam
According to Article 22 of Decree 151/2017/ND-CP, the authority to sell public property is as follows:
- Authority to decide on liquidation of public property in the form of a sale:
+ Ministrators and heads of central agencies shall decide or delegate authority to decide on the liquidation of public assets at state agencies under the management of ministries or central agencies.
+ Provincial-level People's Councils decentralize authority to decide on liquidation of public assets at state agencies under their local management.
- Authority to decide to sell public property in the following cases:
+ At the request of the Minister of Finance, Minister, or Head of State, the Prime Minister shall decide to sell the working office of a centrally-managed state agency at the historical cost of 500 billion VND or more according to the bookkeeping.
And the opinion of the President of the People's Committee of the province where the property is for sale;
+ The Minister of Finance shall decide to sell the working office of a centrally-managed state agency with a historical cost of less than 500 billion VND according to the bookkeeping at the request of the Minister, the head of the central agency, and the opinions of the President of the People's Committee of the province where the property is for sale.
+ Ministers, heads of central agencies decide or decentralize authority to decide on the sale of public assets that are not the working offices of state agencies under the management of ministries or central agencies;
The People's Council of the province shall decide or decentralize the authority to decide on the sale of public property under the management of the locality. In the event of decentralization of authority to decide on the sale of assets that are offices, the People's Council of the province shall delegate the authority to the President of the People's Committee of the province to decide.
Quoc Dat
