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The Ministry of Public Security strengthens handling of violations in asset auction activities in Vietnam

Lê Hải

09:16, 03/11/2020

Recently, the Prime Minister of Vietnam has issued the Directive No. 40/CT-TTg on strengthening state management over asset auction activities.

According to the Directive No. 40/CT-TTg, in order to strengthen the state management of asset auction activities and the effectiveness and efficiency of law enforcement on asset auctions, the Prime Minister of Vietnam has requested the Ministry of Public Security to direct and organize effectively the implementation of the following tasks:

- Direct the police of units and localities to detect, fight and handle in accordance with law violations of the law related to asset auction activities; detect and fight against organizations and interest groups that collude with competent people to dominate auctions and activities of gangster nature (threatening, controlling, assaulting auction participants, etc.);

- Direct local police to implement measures to support security and order at auctions, especially public property auctions of great value, potentially affecting security and order.

In addition, the Prime Minister also requested the Ministry of Justice to continue studying and perfecting the law on asset auction to ensure the order and procedures for public, transparent and objective auction; raise the legal and professional responsibilities of auctioneers and asset auction organizations; develop and complete auctioneer standards and professional ethics.

View more details at the Directive No. 40/CT-TTg of the Prime Minister of Vietnam, issued on November 02, 2020.

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