08 Forms of using financial resources obtained from public property in Vietnam

08 Forms of using financial resources obtained from public property in Vietnam (Internet image) 

Regarding this issue, LawNet would like to answer as follows:

1. 08 Forms of using financial resources obtained from public property in Vietnam

According to Article 7 of the Law on Management and use of public property 2017, the forms of using financial resources obtained from public property include:

- 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.

2. Classification of public property in Vietnam

According to Article 4 of the Law on Management and use of public property 2017, the classification of public property is 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. Banned actions in management and use of public property in Vietnam

Banned actions in management and use of public property under Article 10 of the Law on Management and use of public property 2017 are as follows:

- Take advantage of positions and power to illegally occupy and use public property.

- Invest in construction, purchase, distribute, lease or use public property for the improper purposes and policies or exceeding criteria and norms.

- Transfer public property to an organization or individual that exceeds the criteria and norms or has no demand for use of public property.

- Use cars and other public property that are given by an organization or individual for the improper purposes and policies or exceeding criteria and norms.

- Use or fail to use transferred public property resulting in waste; use public property for commercial purposes, for lease or for joint venture purposes that fails to serve purposes of use of the property and makes an adverse impact on implementation of functions and tasks assigned by the State; or use public property for illegal business.

- Dispose of public property illegally.

- Destroy or intentionally damage public property.

- Occupy or use public property illegally.

- Fail to fulfill all responsibilities or obligations in management and use of public property.

- Other banned actions in management and use of public property as prescribed in regulations of relevant law.

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