Latest regulations on classification of public property in Vietnam

Latest regulations on classification of public property in Vietnam (Internet image)

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

1. Latest regulations on classification of public property in Vietnam

According to Article 4 of the Law on Management and Use of Public Property 2017 (amended in the Law on Telecommunications 2023), public property specified in the Law on Management and Use of Public Property 2017 shall be classified as follows:

- 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”);

- 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”);

- Public property of enterprises;

- Property of state-funded projects;

- 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;

- Money of the state budget, non-state budget financial funds and foreign exchange reserves of the State;

- Land; water resources, forest resources, mineral resources, marine resources, airspace, telephone numbers and other numbers serving state management, Internet resources of Vietnam, radio frequency spectrum, orbit satellites and other resources managed by the State according to regulations of law.

2. Rules for management and use of public property in Vietnam

Rules for management and use of public property in Vietnam according to Article 6 of the Law on Management and Use of Public Property 2017 are as follows:

- The State shall authorize management and use of each public property corresponding to each organization and individual in accordance with this Law and relevant law.

- Public property invested by the State shall be managed, operated, maintained, repaired, statistically and financially accounted for both exhibits and value; highly risky property due to natural disasters, fires and other force majeure events shall be managed through insurance or other instruments as regulated by law.

- Public property are resources that shall be inventoried, prepared statistics on exhibits, provided information in line with nature and characteristics of property; managed, protected and operated according to the planning and plans in order to ensure cost-effectiveness and lawfulness.

- Public property serving management and provision of public services and assurance of national security shall be used cost-effectively for the right purposes, utility, subjects, standards, norms and policies as prescribe by law.

- Use of financial resources obtained from public property shall be subjected to market mechanism, effectiveness, transparence and lawfulness.

- Management and use of public property shall apply the principle of transparence and ensure thrift practice, waste combat, corruption prevention and control.

- Management and use of public property shall be monitored, inspected and audited; any violations against management and use of public property shall be promptly and strictly handled according to regulations of law.

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