Vietnam: State agencies are allowed to sell public houses and land if they are no longer in use

10:10, 24/02/2018

On December 31, 2017, the Government of Vietnam issued Decree No. 167/2017/NĐ-CP on disposition of public property.

According to Decree No. 167/2017/NĐ-CP of Vietnam’s Government, the sale of property on land or assignment of land use rights of bodies shall be done in the following cases:

- Redundant property no longer needs to be used after disposition;

- Generate sources of funds investment in construction, upgrade or renovation of working offices, public-sector establishments of bodies within its scope of management of central or local ministries.

The sale of property on land, assignment of land use right in the form of auction shall comply with the law on auction and the provisions in Article 24 of Decree No. 151/2017/ND-CP of Vietnam’s Government.

The disposition of property in case of failed auction shall be done in accordance with Article 25 of Decree No. 151/2017/ND-CP of Vietnam’s Government.

View details at Decree No. 167/2017/NĐ-CP of Vietnam’s Government, effective from January 01, 2018.

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