What is public property in Vietnam?

19:19, 11/07/2017

Public property is property under public ownership and managed by the State of Vietnam.

Public property is defined in two recently enacted laws which are the Law on Management and Use of Public Property 2017 of Vietnam and the Law on State Audit Office of Vietnam 2015. Public property can be understood as follows:

“Public property” (or formerly known as State property) is property under public ownership and managed by the State.

This descriptive definition of public property was first stated in the Law on Management and Use of Public Property 2017 of Vietnam. The Law on State Audit Office of Vietnam 2015 only defines public property by listing what types of assets are public property.

	Law on Management and Use of Public Property 2017	Law on State Audit Office of Vietnam 2015
Descriptive definition	Public property is property under public ownership and managed by the State of Vietnam	No
Types	- 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	- Land; water resources, mineral resources; resources in territorial waters and airspace; other natural resources; - State-owned property at regulatory agencies, the army, public service agencies, political organizations, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations; - Public property allocated to enterprises; - State property for reserve; - Property classified as infrastructure serving public interests; - Other types of property under the ownership of the whole people and represented, managed by the State.
Legal basis	Clause 1 Article 3 of the Law on Management and Use of Public Property 2017	Clause 11 Article 3 of the Law on State Audit Office of Vietnam 2015
Effective date	January 01, 2018	January 01, 2016

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