Cases in which public property can be sold at state authorities in Vietnam

Cases in which public property can be sold at state authorities in Vietnam (Internet image) 

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

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. Cases in which public property can be sold at state authorities in Vietnam

According to Clause 1, Article 43 of the Law on Management and use of public property 2017, public property shall be sold if:

- Withdrawn property is offered for sale as prescribed in Article 41 herein;

- A state authority assigned to use public property no long uses or less uses due to change in organizational structure, functions, tasks or other causes in which the property is not withdrawn or transferred;

- Management and use of public property are rearranged;

- Public property is liquidated as specified in Article 45 of the Law on Management and use of public property 2017;

3. Regulations on authority to decide on the sale of public property in Vietnam

Specifically, in Clauses 1 and 2, Article 22 of Decree 151/2017/ND-CP, the authority to decide on the sale of public property in Vietnam is as follows:

- Competence to decide on the liquidation of public property in the form of sale shall comply with Article 28 of Decree 151/2017/ND-CP.

Specifically, the authority to decide on the liquidation of public property in the cases specified in Clause 1, Article 45 of the Law on Management and use of public property 2017 is prescribed as follows:

+ Ministers, heads of central agencies decide or decentralize authority to decide on the liquidation of public assets at state agencies under the management of ministries or central agencies.

+ Provincial-level People's Councils decentralize authority to decide on the liquidation of public assets at state agencies under their local management.

- Competence to decide on the sale of public property in the cases specified at Points a, b, and c, Clause 1, Article 43 of the Law on Management and use of public property 2017 is prescribed as follows:

+ The Prime Minister decides to sell the working office of a centrally managed state agency with a historical cost according to the accounting books of VND 500 billion or more at the proposal of the Minister of Finance, the Minister, the head of the central agency concerned, and the opinion of the President of the People's Committee of the province where the property is sold;

+ The Minister of Finance shall decide to sell the working office of a centrally-managed state agency with a historical cost according to the accounting books of less than VND 500 billion at the request of the Minister, the head of the central agency, and the opinions of the President of the People's Committee of the province where the property is for sale.

The determination of the value of land use rights in the historical cost of assets to determine the competence specified at Points a and b, Clause 2, Article 22 of Decree 151/2017/ND-CP shall comply with the provisions of Chapter XI of Decree 151/2017/ND-CP.

+ Ministers, heads of central agencies decide or decentralize authority to decide on the sale of public assets that are not the working offices of state agencies under the management of ministries or central agencies;

+ The People's Council of the province shall decide or decentralize the authority to decide on the sale of public property under the management of the locality.

In cases of decentralization of authority to decide on the sale of assets that are offices, the People's Council of the province shall delegate the authority to the President of the People's Committee of the province to decide.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE