It is impossible to procure and sell public assets due to slow issuance of norms by many ministries

VCN - The Law on Management and Use of Public Assets has been officially in force for more than 1 year. In addition to the positive results contributing to the effective management, use and exploitation of financial resources from public assets, many units are not really serious in its implementation.
tin nhap 20190503145411 Allowing procurement for public cars completed procedures before 1st January 2018
tin nhap 20190503145411 Centralized purchasing: Saving 30,000 billion VND per year for State Budget
tin nhap 20190503145411 Identify and resolutely eliminate waste and loss of public assets
tin nhap 20190503145411
The number of diverse machines is one of the reasons that the Ministry of Health is slow to issue procurement standards and norms. Photo: Internet.

Standardize data

The Law on Management and Use of Public Assets took effect from January 1, 2018.According to the review bythe Ministry of Finance, many agencies and units have been very active in developing and submitting to the Government and the Prime Minister for promulgation according to the authority of detailed documents, guidance on the implementation of the Law in order to concretize the contents assigned by the Law, creating a relatively complete legal basis in the management and use of public assets in the direction of strict management, efficient use and exploitation of financial resources from the public assets.Among them, the Ministry of Finance, the Ministry of Defense and the Ministry of Public Securityare highlighted.

The agencies assigned the task of managing public assets including the Ministry of Finance; Department of Finance - Ministry of Defense; Department of Finance - Ministry of Public Security; District-level Departments of Finance, Finance-Planning Committee Divisions have opened a temporary account at the State Treasury to manage the proceeds from the handling of public assets according to the regulations.Besides, most ministries, branches and localities have completed issuing regulations on decentralization in management of public assets according to the provisions of Decree No. 151/2017/ND-CP.

The ministries, branches and localities have also updated and standardized data in the national database on public properties according to the regulations.At the same time, to support the management of fixed assets, many agencies, organizations and units have actively used other software (in addition to state asset management software) to manage the fixed assets at their units, including assets with original cost of less than 500 million VND/unit.

For example, in Hanoi, the City People's Committee directed Hanoi Department of Finance to preside and coordinate with relevant agencies to organize 33 conferences to train and disseminate the Law and documents guiding the implementation of the Law for 7,700 practitioners, helping agencies and units to update new policies, to solve problems in procurement, management and use of public assets.

As of October 31, 2018, statistics in HauGiang province showed that there were 2,488 properties with the original price of over 5,653 billion VND; the remaining value of more than 4,460 billion VND was registered in the state asset registration management software.In addition, there were 239 properties with the original costs of more than 109 billion VND, the remaining value of more than 10 billion VND was declared in the asset management software as the concentrated rural water supply projects and 30 assets with the original costsof more than 8,577 billion VND, the remaining value of over 7,433 billion VND was in software for synthesizing road infrastructure assets inventory data.

The formulation of standards and norms

In addition to these positive aspects, the existence in the process of promulgating standards and norms for the use of specialized office area, non-business facilities, specialized machinery and equipment is undeniable.

Summary of reports of ministries, branches and localities sent to the Ministry of Finance showed thatuntil now, only about 50% of units have issued these standards and norms, typically the Ministry of Finance, State Bank of Vietnam, and 5 localities including HauGiang, Lao Cai, Quang Ngai, Ca Mau and Ha Giang.Most ministries, branches and localities have not yet issued standards and norms for specialized areas and areas of non-business works in non-business establishments.

The main reason was that some ministries such as the Ministry of Health, Ministry of Education and Training, Ministry of Labor, Invalids and Social Affairs had not issued detailed regulations on standards and norms for the use of specialized assets in the fields of health, education and training. Therefore,the ministries, branches and localities had no basis to formulate and promulgate standards and norms for agencies, organizations and units under their management.In addition, due to the large and diversenumber of specialized machines, equipment, specialized office area, area of professional works with different needs, the synthesis, setting standards and norms had not been completed promptly.

Speaking onthe impact of the above delay, Mr. Nguyen Tan Thinh - Director General of the Public Property ManagementDepartment, Ministry of Finance stated:The slow promulgation of standards and norms for use of specialized offices, non-business facilities, specialized machinery and equipment affected construction investment, procurement, repair, upgrade, renovation and disposal of assets.According to the regulations, ministries, branches and localities must issue the regulation on these standards and norms before July 31, 2018.The slow promulgation of norms for the use of specialized public assets would strongly impact on asset management in units due to the failure to implement investment, procurement, lease, delivery, transfer and sale for public assets.

tin nhap 20190503145411 Leaders must be responsible for violations of public assets

VCN- On the afternoon of September 27, 2016, the Ministry of Finance held a press conference on ...

In the report to the Prime Minister, the Ministry of Finance had proposed the Prime Minister to assign the Ministry of Health, the Ministry of Education and Training and the Ministry of Labor, War Invalids and Social Affairs to urgently issue detailed guidelines on standards and norms for the use of specialized public assets to the localities as a basis for implementation.In some cases that the regulations on the decentralization of public property management or regulations on assets of great value to determine the authority to approve the Scheme on the use of public assets in public non-business units under its management for business and leasing purposes have not been issued yet, the Minister, the Head of the Central Agency and the provincial People's Committee will be responsible for approval.These solutions will ensure the effective management, use and exploitation of public assets in the future, and better implement the Law on Management and Use of Public Assets approved by the National Assembly.

By Hong Van/ Ha Thanh

Related News

General inventory of public assets raises efficiency of use and management of country

General inventory of public assets raises efficiency of use and management of country's resources

VCN – The implementation of the General Inventory Project by the Ministry of Finance, ministries, central and local agencies has ensured progress according to Project 213 and the plan issued by the Ministry of Finance. This is the information provided by a representative of the Department of Public Asset Management (Ministry of Finance) at the press conference on the implementation of the General Inventory Project of public assets organized by the Ministry of Finance on the afternoon of December 18.
New regulations on procurement, exploitation, and leasing of public assets

New regulations on procurement, exploitation, and leasing of public assets

VCN - Decree No. 114/2024/ND-CP, which amends and supplements certain articles of Decree No. 151/2017/ND-CP detailing the implementation of the Law on Management and Use of Public Assets, introduces significant changes. These include updates on authority, methods of asset exploitation in agencies and units, plans for leasing, joint ventures, and partnerships in public service units, as well as centralized procurement procedures.
One law amending seven financial laws: New driving force for economic growth

One law amending seven financial laws: New driving force for economic growth

VCN - Draft 1 of the Law amending 7 laws in the financial sector has been officially submitted and discussed at the 8th session of the 15th National Assembly. According to the Law-making program, the Law will be developed and promulgated following a simplified procedure and will be approved at this session. The simultaneous amendment of many provisions in the laws in the financial sector and their early approval demonstrate the determination and great efforts of the National Assembly, the Government, and the Ministry of Finance in creating a system of open and appropriate policies, promoting investment resources in the economy, thereby promoting economic growth in the new period.
Removing legal hurdles in regular spending for capital assets

Removing legal hurdles in regular spending for capital assets

VCN - Mr. Bui Anh Binh, Deputy Director of the Department of Public Administration (Ministry of Finance) emphasized that the issuance of Decree No. 138/2024/ND-CP has created an important legal corridor, promptly removed obstacles, and created conditions for ministries, branches, and localities to proactively use regular expenditures to carry out tasks and projects outside the approved medium-term public investment plan, and to be proactive in performing assigned tasks.

Latest News

Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.
Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN – Motivated by the revenue collection by the end of December 2024, the General Department of Taxation has accomplished the revenue collection.
Publicizes progress of public investment disbursement for important national projects

Publicizes progress of public investment disbursement for important national projects

VCN – Important national projects, inter-regional transport projects, riverbank and coastal erosion treatment projects all have disbursement rates lower than the estimated average disbursement rate of the whole country, the Ministry of Finance said.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).

More News

PM urges stronger measures to manage interest rates

PM urges stronger measures to manage interest rates

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to proactively, flexibly, promptly, and effectively manage the monetary policy in combination with the expansionary fiscal policy and others.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
Vietnamese products: Conquering foreign customers in supermarket systems

Vietnamese products: Conquering foreign customers in supermarket systems

VCN - According to the Ministry of Industry and Trade, the proportion of Vietnamese goods in distribution channels currently reaches more than 80% in supermarkets and 60% or more in traditional retail channels. For many retailers, Vietnamese goods have become a growth driver as they not only do business successfully in the domestic market but also export.
Answering many questions from businesses at dialogue conference on tax and customs policies

Answering many questions from businesses at dialogue conference on tax and customs policies

VCN - Many opinions and recommendations related to tax and customs issues were raised by the business community at the dialogue on tax and customs policies and administrative procedures in 2024, organized by the Ministry of Finance.Representatives of the Ministry of Finance, the General Department of Taxation, and the General Department of Customs provided specific responses, and affirmed that they will continue to research and advise on the assessment, review, and amendment and supplementation of appropriate regulations.
Enterprises face difficulties in tax refunds due to partners closing

Enterprises face difficulties in tax refunds due to partners closing

VCN - On December 13, at a dialogue conference on tax and customs policies and administrative procedures organized by the Ministry of Finance in coordination with the Vietnam Chamber of Commerce and Industry (VCCI), enterprises proposed solutions to many problems related to tax policies such as VAT refunds, tax declaration procedures, electronic invoices, etc.
Strengthen the management and use of electronic invoices for e-commerce

Strengthen the management and use of electronic invoices for e-commerce

VCN - Prime Minister Pham Minh Chinh requested ministries, branches and localities to strengthen the management and use of electronic invoices and improve the efficiency of tax collection for e-commerce.
Ministry of Finance proposes comprehensive amendments to the Personal Income Tax Law

Ministry of Finance proposes comprehensive amendments to the Personal Income Tax Law

VCN - The Ministry of Finance has just completed the proposal to draft the Personal Income Tax Law (PIT) and officially solicited public comments. By amending and supplementing nearly 90% of the total number of articles of the current PIT Law, the Ministry of Finance has submitted to the Government for permission to propose the draft PIT Law to replace the PIT policy system. The project is expected to be approved by the National Assembly in May 2026.
Expansionary fiscal policy halts decline, boosts aggregate demand

Expansionary fiscal policy halts decline, boosts aggregate demand

VCN - Customs News interviews Ms. Nguyen Thanh Nga, Deputy Director of the Institute for Financial Strategy and Policy (Ministry of Finance).
Ministry of Finance stands by enterprises and citizens

Ministry of Finance stands by enterprises and citizens

VCN - This was the affirmation of Deputy Minister of Finance Cao Anh Tuan at the 2024 Dialogue Conference on Tax and Customs Policies and Administrative Procedures. The conference, jointly organized by the Ministry of Finance and the Vietnam Chamber of Commerce and Industry (VCCI) on December 10, attracted 530 enterprises from the northern region.
Read More

Your care

Latest Most read
Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.
Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN - With the determination to accomplish the revenue collection to create resources for economic development under the Prime Minister's direction, the entire Tax sector has made efforts to perform the revenue collection in the last days of 2024.
General inventory of public assets raises efficiency of use and management of country

General inventory of public assets raises efficiency of use and management of country's resources

VCN – The implementation of the General Inventory Project by the Ministry of Finance, ministries, central and local agencies has ensured progress according to Project 213 and the plan issued by the Ministry of Finance. This is the information provided by
Publicizes progress of public investment disbursement for important national projects

Publicizes progress of public investment disbursement for important national projects

VCN - The Ministry of Finance has issued Document No. 13213/BTC-DT to publicize the progress of public investment disbursement of key national projects.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
Mobile Version