New regulations on sale and liquidation of public assets

The Government issued Decree No. 186/2025/ND-CP detailing a number of articles of the Law on Management and Use of Public Assets. In particular, the Decree clearly stipulates the sale and liquidation of public assets.

Decree 186/2025/ND-CP clearly stipulates the sale and liquidation of public assets.

Authority and procedure for selling public assets

Regarding the authority to decide on the sale of public assets , the Decree stipulates: The authority to decide on liquidation of public assets in the form of sale is implemented according to the provisions of Article 28 of Decree No. 186/2025/ND-CP on the authority to decide on liquidation of public assets.

The authority to decide on the sale of public assets in the cases specified in Points a, b and c, Clause 1, Article 43 of the Law is stipulated as follows:

a) The Minister or Head of a central agency decides or delegates the authority to decide on the sale of fixed assets at state agencies under the management of the ministry or central agency.

b) The Chairman of the Provincial People's Committee decides or delegates the authority to decide on the sale of fixed assets at state agencies under the local management scope.

c) The Chief of Office of the Provincial People's Council decides to sell assets managed and used by the Office of the Provincial People's Council.

d) The agency with public assets decides to sell: Public assets are fixed assets under the authority delegated by the Minister, Head of a central agency, or Chairman of a provincial People's Committee; Public assets are not fixed assets.

Regarding the order and procedures for selling public assets, the Decree stipulates that agencies with public assets in the cases specified in Points a, b and c, Clause 1, Article 43 of the Law shall prepare a set of documents requesting the sale of public assets and send them to the superior management agency (if there is a superior management agency) for consideration and request the competent agency or person specified in Clause 2, Article 22 of this Decree to consider and decide.

Within 20 days from the date of receipt of complete and valid documents, the competent authority or person specified in Clause 2, Article 22 of Decree No. 186/2025/ND-CP shall consider and decide to sell public assets or issue a written response in case the sale proposal is not appropriate.

The agency or person with authority to decide to sell public assets shall decide to assign the agency with public assets or the agency assigned to perform the task of managing public assets as prescribed in Clause 2 and Clause 3, Article 19 of the Law to be responsible for organizing the sale of public assets.

In case the competent authority or person assigns the responsibility of organizing the sale of public assets to the agency assigned to perform the task of managing public assets as prescribed in Clause 2 and Clause 3, Article 19 of the Law, it shall be implemented according to the following principles:

- The agency assigned to perform the task of managing public assets as prescribed in Clause 2, Article 19 of the Law shall organize the sale of public assets decided to be sold by the Minister or Head of a central agency.

- The agency assigned to perform the task of managing provincial-level public assets as prescribed in Clause 3, Article 19 of the Law on Organization of Sale of public assets decided to be sold by the Chairman of the Provincial People's Committee.

- The agency assigned to perform the task of managing communal-level public assets as prescribed in Clause 3, Article 19 of the Law shall organize the sale of public assets decided to be sold by the People's Committee of the communal level or the Chairman of the People's Committee of the communal level according to the decentralization of the Chairman of the People's Committee of the provincial level.

Pursuant to the Decision on sale of public assets of the competent authority, the agency assigned to organize the sale of public assets shall be responsible for organizing the sale of assets in accordance with the provisions of Articles 24, 25, 26 and 27 of Decree No. 186/2025/ND-CP. In case the effective period of the Decision expires without completing the sale, the following shall be implemented:

- In case of continued sale, within 5 working days from the date the Decision expires, the agency with public assets shall issue a document stating the progress of implementation, the reason for not completing the sale and proposing an extension period, reporting to the superior management agency (if there is a superior management agency) to report to the agency or person with the authority to decide on the sale for consideration and decision to extend the Decision on sale to continue the sale (the extension period shall not exceed 6 months from the date of the extension Decision).

- In case of not continuing to sell, within 5 working days from the date the Decision expires, the agency with the property shall prepare a dossier, report to the competent agency or person for consideration and decision on handling according to the forms prescribed in Clauses 1, 2, 2a, 5, 6, 7 and 8, Article 40 of the Law.

Within 30 days from the date of completion of the asset sale, the agency with the asset to be sold shall account for the decrease in assets; report on the declaration of changes in public assets according to regulations.

Decree No. 186/2025/ND-CP stipulates 3 methods of selling public assets including: Auction, price listing and appointment.

Authority and procedure for liquidation of public assets

Regarding the authority to decide on liquidation of public assets , the Decree stipulates the authority to decide on liquidation of public assets in the cases specified in Clause 1, Article 45 of the Law as follows:

1- The Minister or Head of a central agency decides or delegates the authority to decide on the liquidation of public assets which are fixed assets at state agencies under the management of the ministry or central agency.

2- The Chairman of the Provincial People's Committee decides or delegates the authority to decide on the liquidation of public assets which are fixed assets at state agencies under the management scope of the locality.

3- The Chief of Office of the Provincial People's Council decides to liquidate assets managed and used by the Office of the Provincial People's Council.

4- The agency with public assets decides to liquidate: Public assets are fixed assets under the authority delegated by the Minister, Head of central agency, Chairman of Provincial People's Committee; Public assets are not fixed assets.

The order and procedures for liquidating public assets are stipulated in the Decree when public assets have expired (the time of use for calculating asset depreciation according to regulations on management and depreciation of fixed assets at agencies, organizations and units has expired or the frequency of use has expired according to regulations of law) and the agency assigned to manage and use the assets needs to liquidate them; Public assets that have not expired but are damaged and cannot be repaired or the repair is ineffective (estimated repair costs are greater than 30% of the original price in case the original price can be determined or greater than 30% of the investment value in construction, purchase of new assets of the same type or with equivalent technical standards, quality, origin at the time of liquidation in case the original price cannot be determined), office buildings or other assets attached to land must be demolished according to the decision of the competent authority or person, the agency with the assets shall prepare a set of documents requesting the liquidation of public assets, send it to the superior management agency (if there is a superior management agency) for consideration, request the competent authority or person specified in Article 28 of Decree No. 186/2025/ND-CP for consideration and decision.

Within 20 days from the date of receipt of complete and valid documents, the competent authority or person specified in Article 28 of Decree 186/2025/ND-CP shall decide to liquidate the assets or issue a written response in case the liquidation request is inappropriate.

Within 60 days (for houses and other assets attached to land), 30 days (for other assets), from the date of the decision to liquidate assets by the competent authority or person, the agency with assets to be liquidated shall organize the liquidation of assets according to the provisions of Article 30 and Article 31 of Decree 186/2025/ND-CP.

Within 30 days from the date of completion of asset liquidation, the agency with liquidated assets shall record a decrease in assets; report on asset fluctuations as prescribed.

In case of having to demolish or destroy assets to implement an investment project according to a project approved by a competent authority or person (the assets to be demolished or destroyed are shown on the basic design drawings or construction drawings or on the project dossier or on the decision approving the economic and technical report or on the decision approving the project) or to clear the site when the State reclaims land, the agency owning the assets does not have to carry out the procedure of reporting to the competent authority or person deciding to liquidate public assets according to regulations. The demolition or destruction of assets is carried out as follows:

a- Demolition and destruction of assets to implement investment projects according to projects approved by competent authorities and individuals:

In case the agency with assets is the Investor implementing the project, based on the content of demolition, asset destruction or site clearance approved in the project, the agency with assets shall organize the demolition, destruction and handling of materials and supplies recovered from demolition and destruction according to the provisions of Article 30 of Decree No. 186/2025/ND-CP and the project content approved by the competent agency or person.

In case the agency with assets is not the Investor implementing the project, the agency with assets is responsible for handing over the assets to the Project Management Board/Project Investor; the handover is made in a Minutes. Based on the Minutes of asset handover, the agency with assets shall account for asset reduction according to regulations. The Project Management Board/Project Investor implementing the project is responsible for organizing the demolition and destruction of assets to implement the project and handling the materials and supplies recovered from demolition and destruction according to the provisions of Article 30 of Decree No. 186/2025/ND-CP and the project is approved by the competent authority or person.

Demolition and cancellation costs are included in project implementation costs; the amount collected from the handling of recovered materials and supplies (if any) is managed and used according to the approved project (in case the project has regulations on the management of the amount collected from the handling of recovered materials and supplies) or is paid to the state budget at the State Treasury where the Project Management Board/Project Investor opens an account (in case the project does not have regulations on the management of the amount collected from the handling of recovered materials and supplies).

b- Demolition and destruction of assets to clear the land when the State reclaims land: The agency with assets is responsible for handing over the assets to be demolished or destroyed to the organization in charge of compensation and site clearance; the handover is recorded in a Minutes. Based on the Minutes of asset handover, the agency with assets shall account for the reduction of assets according to regulations; the organization in charge of compensation and site clearance shall carry out compensation, support, site clearance and property disposal according to regulations of the law on land.

In case a house or construction is built for temporary use for a certain period of time according to the decision of a competent authority or person or a project approved by a competent authority or person, after the temporary use period expires, the agency with the property or the Project Management Board/Investor (in case the agency with the property is not the Investor implementing the project) is responsible for organizing the demolition and destruction according to the provisions of Article 30 of Decree No. 186/2025/ND-CP and handling the materials and supplies recovered from the demolition and destruction according to the provisions of Article 13 of Decree No. 186/2025/ND-CP; it is not required to carry out the procedure of reporting to the agency or person with the authority to decide on the liquidation of public assets according to regulations.

The Decree clearly states the forms of organizing the liquidation of public assets. Accordingly, the liquidation of public assets is organized in two forms: demolition, destruction and sale.

Decree 186/2025/ND-CP takes effect from July 1, 2025.

Source: https://hanoimoi.vn/quy-dinh-moi-ve-ban-thanh-ly-tai-san-cong-708568.html