Conditions for developing a proposal to use public assets in Hanoi for business purposes of NIC

Principles for Developing Proposals for the Use of Public Assets for Business, Leasing, Joint Ventures, and Partnerships in Vietnam

- There shall be no alteration of the primary purpose of using public assets, which is to provide public services in line with the functions, tasks, requirements, and development objectives of the Center.

- There must be a reasonable financial plan, with specific calculations of costs and income to determine financial efficiency or ensure the objectives of the proposal are met, guaranteeing effective use of public assets without wastage.

- Information must be disclosed transparently, including the declaration of plans for asset use, asset values, related partners, evaluation results, and factors related to asset use decisions.

- Ensure competitiveness, without discrimination, favoritism, or special preference towards specific partners.

Conditions for Developing Proposals for the Use of Public Assets for Business, Leasing, Joint Ventures, and Partnerships in Vietnam

- Clearly identify the need for the use of public assets, including determining the necessary assets for the primary operations of the Center according to the functions and tasks assigned by the State; assets used for business, leasing, joint ventures, and partnerships.

- Assess the condition and current value of public assets under the management of the Center to determine the necessity and capability of using the assets, avoiding wastage of public assets.

- Ensure the legality of public assets: Public assets must be those entrusted by the State for the Center to manage and use; assets donated, gifted, or contributed by domestic and foreign organizations and individuals, or through aid, funding, and other forms of ownership transfer to the Center; assets independently invested, constructed, or procured by the Center from its financial resources are permissible for business, leasing, joint ventures, and partnerships, and are not categorized as state assets needing protection or restricted use.

- Public assets must be valued according to current standards and valuation methods to ensure fairness and transparency.

Circular 25/2024/TT-BKHDT is effective from February 15, 2025.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE