Cases of asset recovery at Party agencies in Vietnam

Cases of asset recovery at Party agencies in Vietnam (Internet image)

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

1. Cases of asset recovery at Party offices in Vietnam

Cases of asset recovery at Party offices according to Clause 1, Article 24 of Decree 165/2017/ND-CP are as follows:

- The office is not used for more than 12 months in a row;

- Being assigned a new head office or to invest in the construction of a new office to replace it;

- The property is being used improperly, exceeding standards and norms; misappropriation; loan

- Transferring, selling, donating, contributing capital, or using assets to secure the performance of civil obligations in contravention of regulations; using assets for business, leasing, joint venture, or association purposes in contravention of regulations;

- Assets have been assigned, built, and purchased but no longer need to be used, the use or exploitation is inefficient, or the demand for use has decreased due to changes in organizational structure, functions, and tasks.

- Must be replaced due to technical and technological renewal requirements, as determined by a competent agency or individual;

- The party's agency assigned to manage and use the property returns it voluntarily;

- Other cases as prescribed by law.

2. Authority to decide on asset recovery at Party agencies in Vietnam

Competence to decide on asset recovery at Party agencies according to Clause 2, Article 24 of Decree 165/2017/ND-CP is as follows:

- The Chief of the Party's Office of the Central Committee shall decide or decentralize the authority to decide on the recovery of property at the Party's central level agency;

- The Provincial Party Committee's Standing Board decides or decentralizes the authority to decide on asset recovery at the Party's agency, which is a subordinate estimating unit under the Provincial Party Committee's Office;

- The District Party Committee's Standing Board shall decide whether to recover assets formed from the Party budget reserve fund for use in activities at the Party's agencies, which are the district-level state budget estimation units.

- Competent agencies and persons, as decentralized by the People's Councils of provinces, shall decide to recover assets assigned by the State in kind and properties invested in construction or purchased from the state budget at the office of the district party committee which is the estimate unit under the district state budget;

- The authority to revoke the land use rights assigned to execute the investment project to build the head office must be recovered in accordance with the provisions of the land law.

3. Principles of asset management and use at Party agencies and Party non-business units in Vietnam

According to Article 4 of Decree 165/2017/ND-CP stipulating the principles of management and use of assets at Party agencies and non-business units of the Party as follows:

- All assets formed under the provisions of Article 3 of Decree 165/2017/ND-CP shall be assigned to Party agencies and non-business units of the Party for management and use.

- Asset formation at Party agencies and non-business units of the Party must be consistent with assigned functions, tasks, and standards; norms on the use of assets, sources of assets, and funding sources that are permitted to be used; and compliance with prescribed methods, orders, and procedures.

Assets must be fully accounted for in kind and value; assets at high risk due to natural disasters, fires, and other force majeure causes are managed financially through insurance or other tools as prescribed by law.

- Assets at Party's agencies and non-business units must be used with proper functions, subjects, standards, norms, and regimes, and be exploited, maintained, and repaired according to regulations; ensuring thrift practice, combating wastefulness, and preventing and combating corruption.

- The exploitation of financial resources from assets held by party agencies and non-business units of the party must be effective, public, transparent, and in accordance with the law.

- The management and use of assets at Party agencies and non-business units of the Party shall be supervised, examined and audited in accordance with laws and regulations of the Party; all acts of violating the regime of management and use of property at Party agencies and non-business units of the Party must be handled promptly and strictly according to regulations.

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