Hanoi – The Vietnamese government is enacting sweeping changes to the management and utilization of public assets, following a directive from Prime Minister Pham Minh Chinh aimed at improving efficiency and transparency. The initiative, formalized in recent weeks, addresses a backlog of state-owned properties and land, and signals a shift towards a more market-oriented approach to asset management.
According to a report released by the Ministry of Finance, a comprehensive review has processed 25,885 state-owned properties and land parcels. Of these, 8,515 have been designated for employ as offices and operational facilities, while 2,913 are earmarked for educational institutions. A further 618 properties will serve as medical facilities, 2,296 as cultural and sporting venues, and 677 for public service purposes. 91 properties are designated as official residences.
The government has also transferred 4,495 properties to land development organizations responsible for housing management and sales. An additional 6,280 properties are being utilized for other purposes, in accordance with existing regulations. Officials state that no further processing of properties is currently required.
A significant component of the initiative involves the transfer of 7,998 houses and land parcels to local authorities for management and disposal. To date, 3,543 of these have been processed or put into service, with the remaining 4,455 currently undergoing procedures as prescribed by law.
Alongside the property review, the Ministry of Finance has addressed vehicle allocation for newly reorganized communal administrations. Decree 153/2025/ND-CP, amending and supplementing articles of Decree 72/2023/ND-CP, limits each commune to a maximum of two motor vehicles for general use. Directives have also been issued regarding the transfer of vehicles from former district-level agencies and the allocation of funds for novel vehicle acquisitions where needed. Reports indicate that 32 of Vietnam’s 34 provinces have equipped newly reorganized communes with at least one official vehicle, with the remaining two provinces finalizing procurement procedures.
Local authorities have also ensured that all reorganized communes are equipped with sufficient machinery and equipment, with ongoing assessments to identify and fund replacements to support digital transformation and improve administrative efficiency.
Nguyen Tan Thinh, Director of the Department of Public Asset Management at the Ministry of Finance, described the asset management process as a “miracle,” noting that plans for managing surplus assets have been approved at the local level and are being rigorously monitored. He acknowledged initial resistance from some localities regarding the allocation of office space for provincial, district, and communal agencies under the new administrative model, but stated that these concerns have been addressed.
Looking ahead, Thinh indicated that public asset management will be fundamentally reformed in 2026. The practice of holding assets “in reserve for security” will be discontinued, as it is considered wasteful. Instead, assets will be put into service through open and transparent mechanisms, such as auctions and tenders. The Ministry of Finance intends to significantly decentralize its authority, delegating more responsibility to ministries, sectors, and local authorities, and limiting its direct intervention in specific cases. Local authorities are also encouraged to further decentralize within their own structures.
Prime Minister Chinh’s directive emphasizes the importance of preventing damage or degradation of surplus buildings and land. Any surplus assets are to be transferred to local authorities for management or disposed of in accordance with regulations. Entities involved in the restructuring process are required to complete necessary formalities and notify relevant authorities within 30 days of transferring or receiving properties, allowing for decisions regarding their future use. For properties that remain in use, compliance with established standards must be verified, and any discrepancies reported for potential transfer or disposal. The directive also calls for strengthened inspection and enforcement to address violations related to public asset management.
Provincial and municipal authorities have been instructed to expedite the review and publication of relevant documents, including regulations on decentralizing asset management and establishing standards for specialized public assets. Localities are also urged to urgently develop and approve plans for managing and utilizing houses and land transferred from expropriation projects, ensuring their prompt and compliant use or disposal. Existing plans must be implemented immediately, and any outstanding plans must be rapidly developed and submitted for approval.