07 types of public property under the law in Vietnam

07 types of public property under the law in Vietnam (Source: Internet)

1. What is public property?

According to Clause 1, Article 3 of the 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. 07 types of public property under the law in Vietnam

Specifically, in Article 4 of the Law on Management and use of public property 2017, public property is classified as follows:

(1) Public property used to manage and provide public services and ensure national security of competent state authorities, people’s armed forces, public service providers, authorities affiliated to Communist Party of Vietnam, socio-political organizations, socio-political and professional organization, social organization, social-professional organization or another organization that is established according to regulations of law on associations, except for the property specified in Clause 4 this Article (hereinafter referred to as “public property of authorities and organizations”);

(2) Infrastructural property serving national or public interests are technical infrastructure works, social infrastructure facilities, land areas, water areas or sea areas associated with infrastructure works, including: transport infrastructure, power supply infrastructure, irrigation infrastructure and response to climate change, urban infrastructure, industry cluster infrastructure, industrial zones, economic zones, high-tech zones, commercial infrastructure, information infrastructure, educational and training infrastructure, science and technology infrastructure, medical infrastructure, cultural infrastructure, sports infrastructure, tourism infrastructure and other infrastructure in accordance with provisions of law (hereinafter referred to as “infrastructural property”);

(3) Public property of enterprises;

(4) Property of state-funded projects;

(5) Property established for public ownership according to provisions of law, including:

Confiscated property; property without owners, property whose owner is unidentified;

Property that is dropped, forgotten, buried, hidden, sunk and found;

Property without inheritors and other property belonging to the State as prescribed in provisions of the Civil Code;

Property whose owner voluntarily transfers ownership to the State;

Property transferred by the foreign-invested enterprises without reimbursement to the Vietnamese State according to their commitments after the expiry of their operation duration;

Property invested in the form of public-private partnerships and transferred to the Vietnamese State under project contracts;

(6) Money of the state budget, non-state budget financial funds and foreign exchange reserves of the State;

(7) Land; water resources, forest resources, mineral resources, marine resources, airspace, telephone numbers and other numbers serving state management, Internet resources, radio frequency spectrum, orbit satellites and other resources managed by the State according to regulations of law.

3. Forms of using financial resources obtained from public property in Vietnam

The forms of exploitation of financial resources from public property are specified in Article 7 of the Law on Management and use of public property 2017, specifically as follows:

- Assign the right to use public property.

- Grant the right to operate public property.

- Lease out public property.

- Transfer or lease out the right to operate or use public property.

- Use public property for commercial or for joint venture purposes.

- Use public property to fulfill state obligations.

- Sell or liquidate public property.

- Other forms as prescribed by law.

4. Policies on management and use of public property in Vietnam

Policies on management and use of public property include:

- The State shall formulate policies on public property investment, operation and protection.

- The State shall modernize and professionalize management of public property to enhance efficiency and effectiveness of management and use of public property; to ensure personnel and financial resources for the management and use of public property.

- The State shall encourage both domestic and foreign organizations and individuals to:

+ Invest in science and technology to increase public property and modernize management of public property;

+ Transfer rights to invest, operate or lease of public property;

+ Provide services related to public property.

(Article 5 of the Law on Management and use of public property 2017)

Thanh Rin

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