Hanoi, Vietnam: Authority to Decide on the Sale of public property

Authority to Decide on the Sale of public property (Image from Internet)

1. Authority to Decide on the Sale of public property in Vietnam

The authority to decide on the Sale of public property according to Article 22 Decree 151/2017/ND-CP is as follows:

- The authority to decide on the liquidation of public properties in the form of sale is carried out in accordance with the provisions of Article 28 Decree 151/2017/ND-CP.

- The authority to decide on the Sale of public property in the cases specified in points a, b, and c, clause 1, Article 43 Law on Management and Use of public properties 2017 is stipulated as follows:

+ The Prime Minister of Vietnam decides to sell the working headquarters of central-level state agencies with an original cost on the accounting books of 500 billion VND or more upon the proposal of the Minister of Finance, the Ministers, Head of relevant central agencies, and the opinion of the Chairman of the Provincial People's Committee where the asset is located for sale;

+ The Minister of Finance decides to sell the working headquarters of central-level state agencies with an original cost on the accounting books of less than 500 billion VND upon the proposal of the Ministers, Head of central agencies, and the opinion of the Chairman of the Provincial People's Committee where the asset is located for sale.

The determination of the land use right value in the original asset cost to determine authority as stipulated in point a and b, clause 2, Article 28 Decree 151/2017/ND-CP is carried out in accordance with the provisions of Chapter XI Decree 151/2017/ND-CP;

+ The Ministers, Heads of central agencies decide or delegate authority to decide on the Sale of public property that are not the working headquarters of state agencies within the management scope of the ministry or central agencies;

+ The Provincial People's Council decides or delegates authority to decide on the Sale of public property within the management scope of the locality. In case of delegation, the Provincial People's Council delegates to the Chairman of the Provincial People's Committee the decision to sell public properties that are the working headquarters.

2. Procedures for Sale of public property in Vietnam 

The procedures for Sale of public property in Vietnam according to Article 23 Decree 151/2017/ND-CP are as follows:

- State agencies with public properties in the cases specified in points a, b, and c, clause 1, Article 43 Law on Management and Use of public properties 2017 prepare 1 set of documents requesting the Sale of public property and send them to the superior management agency to consider, and request the competent authorities or individuals specified in clause 2, Article 22 Decree 151/2017/ND-CP to consider and decide.

Documents requesting the Sale of public property include:

+ Application for the Sale of public property from the agency assigned to manage and use public properties (clearly stating the method of sale, responsibility for organizing the sale of assets, management, and use of proceeds from the sale): 1 original copy;

+ Application for the Sale of public property from the superior management agency (if any): 1 original copy;

+ List of assets proposed for sale (type, quantity; condition; original cost, remaining value according to the accounting books; current usage purpose; reason for sale): 1 original copy;

+ Opinions from specialized agencies on land use planning (in the case of selling working headquarters): 1 copy;

+ Other relevant documents related to the request for asset sale (if any): 1 copy.

- Within 30 days from the date of receipt of complete and valid documents, the competent authorities or individuals specified in clause 2, Article 22 Decree 151/2017/ND-CP consider and decide on the Sale of public property or provide a written response in case the request for sale is not appropriate.

The agency assigned the task of managing public properties specified in clauses 1, 2, and 3, Article 19 Law on Management and Use of public properties 2017 is responsible for appraising the request for sale in cases where the sale is decided by the Prime Minister of Vietnam, the Minister of Finance, Ministers, Heads of central agencies, the Chairman of the Provincial People's Committee, and the Chairman of the District People's Committee according to their authority.

Key contents of the Decision to sell public properties include:

+ State agency with the asset for sale;

+ List of assets to be sold (type, quantity; original cost, remaining value according to the accounting books; reason for sale);

+ Method of asset sale (for working headquarters, cars, and other assets with original cost on the accounting books of 250 million VND or more per asset unit, the method of sale is auction; for assets with original cost on the accounting books of less than 250 million VND per asset unit, the head of the agency assigned the task of organizing the sale decides on the method of auction, price listing, or direct designation based on the reassessed value and provisions of Articles 24, 26, 27 Decree 151/2017/ND-CP);

+ Agency assigned the task of organizing the Sale of public property;

+ Management and use of proceeds from the sale of assets.

- The competent authority deciding on the Sale of public property assigns the state agency with public properties or the agency assigned the task of managing public properties specified in clauses 1, 2, and 3, Article 19 Law on Management and Use of public properties 2017 to organize the Sale of public property.

The assignment of responsibility to organize the Sale of public property to the agency assigned the task of managing public properties specified in clauses 1, 2, and 3, Article 19 Law on Management and Use of public properties 2017 is carried out according to the following principles:

+ The agency assigned the task of managing public properties specified in clause 1, Article 19 Law on Management and Use of public properties 2017 organizes the Sale of public property decided by the Prime Minister of Vietnam, the Minister of Finance;

+ The agency assigned the task of managing public properties specified in clause 2, Article 19 Law on Management and Use of public properties 2017 organizes the Sale of public property decided by the Ministers, Heads of central agencies;

+ The Department of Finance organizes the Sale of public property decided by the Chairman of the Provincial People's Committee;

+ The Finance - Planning Division organizes the Sale of public property decided by the Chairman of the District People's Committee.

- Within 60 days (for working headquarters), 30 days (for other assets) from the date of the decision to sell by the competent authorities or individuals, the agency assigned the task of organizing the Sale of public property specified in clause 3, Article 23 Decree 151/2017/ND-CP is responsible for organizing the sale in accordance with the provisions of Articles 24, 25, 26, and 27 Decree 151/2017/ND-CP.

- Within 30 days from the date of completion of the asset sale, the state agency with the sold asset accounts for the asset reduction; reports and declares changes in public properties in accordance with the provisions of Articles 126 and 127 Decree 151/2017/ND-CP.

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