The use of public property must be managed transparently to minimise legal loopholes that results in the misuse of the property by individuals and agencies.
The use of public property must be managed transparently to minimise legal loopholes that results in the misuse of the property by individuals and agencies, it was agreed at a recent meeting held by the Ministry of Finance on the matter.
Public property includes land, houses, cars and other assets which are worth more than 500 million VND (23,000 USD).
According to the National Database, as of December last year, the total value of public property had reached nearly 1,000 trillion VND (45.8 billion USD).
Property worth 690.5 trillion VND (31.6 billion USD) was managed by more than 59,000 government agencies, accounting for 69 percent of total assets.
Speaking at the meeting, the head of the ministry's State Asset Management Department, Tran Duc Thang, said several agencies allocated with public property had used their capital to increase operational efficiency whilst giving pay rises to employees and making additional contributions to the State Budget.
However, the shortcoming remained in the management and use of public property. Many assets managed by certain State-owned enterprises had been misused, said Thang.
He said the mechanism to allocate public capital to self-financing enterprises allowed them to use the assets to make a profit.
However, the method of defining the value of public property and self-financing enterprises was not up to scratch.
The ministry would review and adjust processes and procedures used to define the value of property as well as increase the number of government self-financing agencies that receive public assets, Thang told the meeting.-VNA
The Ministry of Finance and foreign partners on June 25 held a mid-term conference to review public finance management (PFM) reform process and outline key projects to carry out the financial strategy to 2020.
Party General Secretary Nguyen Phu Trong called for expeditious, transparent and timely trials for serious and complicated corruption cases during his meeting with the Central Steering Committee for Anti-Corruption in Hanoi on March 31 .
Vietnam and Myanmar have agreed to facilitate the sharing of anti-corruption experience towards signing a relevant memorandum of understanding (MoU) in the coming time.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
