Vietnam faces significant challenges with surplus public properties, as recent statistics reveal over 11,000 facilities of houses and land are either underused or completely idle. By the end of 2024, the number of poorly utilized or wrongly allocated public assets stood at 11,034 across the country, raising flags over efficiency and management of state properties.
Of these, 3,780 properties have already received handling decisions from competent authorities, with the remaining 7,254 still awaiting evaluation or action. This situation has prompted the Ministry of Finance to step up efforts to mitigate waste and improve the management of public assets.
Nguyen Tan Thinh, Director of the Department of Public Asset Management under the Ministry of Finance, emphasized the necessity of proactive planning to address unused and ineffective public properties. He stated, “The Ministry of Finance requests ministries, branches, and localities to develop and implement plans to handle surplus assets.”
He explained the importance of conducting thorough assessments to identify the reasons behind the inefficient use of properties, which are often entangled with existing policies, organizational issues, and planning processes. “To tackle this issue effectively, we must explore the legal mechanisms causing the inefficiencies,” Thinh noted.
The Ministry’s directive includes requiring local and regional authorities to report their findings and proposed solutions back to the Ministry by April 5, 2025, with regular quarterly updates thereafter. This kind of oversight aims to drive a more rigorous approach to addressing the existing inefficiencies, as well as ensuring accountability throughout the process.
Notably, the legal framework has been updated through Decree No. 114/2024/ND-CP and Decree No. 50/2025/ND-CP, both of which lay out protocols for handling public assets during restructuring phases of government agencies. These decrees detail the precise handling of assets when there are organizational changes, including mergers, consolidations, or closures.
Thinh highlighted, “Document guidance for asset handling during agency restructuring is comprehensive and aims to prevent waste and loss.” The intention is for surplus properties, especially those which cannot be relocated, to be either reclaimed, transferred to local administration or reassigned to other utilizers.
According to Thinh, the Ministry of Finance is actively adjusting the regulations governing public assets to keep pace with the changing structure of government and its regulations. This includes reassessing standards for using and managing public properties to align with the updated organizational models.
On March 11, 2025, just days before the reporting deadline, the Ministry issued Document No. 2950/BTC-QLCS, intensifying efforts to review non-utilized public properties. The document requested all relevant ministries and localities to construct and adopt plans for addressing surplus assets and incorporate newly identified properties as they arise.
“Our goal is to eliminate redundancy efficiently and devise solid strategies for the management of public properties,” said Thinh, underscoring the efforts to combat inefficiency during government reorganizations.
Replacing inefficient stewardship of public assets remains high on government priorities, especially as Vietnam embarks on significant administrative reforms aimed at streamlining operations. The country is currently focused on merging and optimizing public sectors, influencing how public assets are controlled and allocated.
Citing the growing trend of administrative restructuring, Thinh remarked on the necessity of adapting to changing circumstances. “With each organizational restructuring, relevant parties must formulate asset management strategies to address the disposal, transfer, or reassignment of public properties efficiently.”
Documented instances of land and property mismanagement have prompted stakeholders to demand more accountability from government entities. “Clear and actionable plans are required for those properties aligned with reorganized or dissolved entities to establish clarity on their future status,” continued Thinh.
This peak scrutiny reflects mounting pressures to adhere to efficient management and recognize public properties not merely as assets but as resources, with their value contingent on effective usage.
Lastly, the Ministry pushed for stronger inspection and supervision practices to prevent delays or failures to adhere to the outlined plans. Ministries and localities are advised to carry out regular inspections and checkpoint assessments to affirm compliance, thereby undertaking the necessary corrective measures when necessary. The collective expectation is for authorities to systematize their approach to mitigate unnecessary property wastage and optimize public assets.