The Government Office has issued Notice No. 344/TB-VPCP outlining Deputy Prime Minister Le Tien Chau's conclusions following a meeting on the draft revised Law on Property Auctions. Most participants at the meeting proposed raising the required deposit for certain land auctions from the current range of 10 percent–50 percent to 20 percent–50 percent.
According to the notice, the Deputy Prime Minister generally agreed with the draft law submitted to the Government by the Ministry of Justice. He assigned the ministry to work with relevant ministries and agencies to incorporate appropriate feedback from the meeting, promptly finalize the draft legislation, and submit it to the Government.
Le Tien Chau instructed the Ministry of Justice to review and supplement the list of assets that must be sold through auctions under the law, particularly new types of assets emerging in the digital economy. These include exploitation rights, fee collection rights, service charge collection rights related to the operation and use of infrastructure works, build-operate-transfer (BOT) projects, and projects invested in by the State. He also called for comprehensive provisions to ensure that any new categories of assets subject to mandatory auction in the future are fully covered.
Regarding fully online auctions conducted through the national online property auction system, the Deputy Prime Minister instructed the Ministry of Justice to work closely with the Ministry of Public Security to implement the system while simultaneously evaluating its effectiveness and feasibility. The assessment is intended to support further refinement of the draft law before it is submitted to the National Assembly for approval.
To improve the management of public assets and prevent manipulation of auction results, Le Tien Chau directed the Ministry of Justice to review and assess appropriate regulations governing deposits for auctions of residential land-use rights allocated to individuals. Most participants at the meeting proposed raising the required deposit from the current range of 10 percent–50 percent to 20 percent–50 percent under Article 29 of the draft law.
On encouraging voluntary auctions of assets owned by individuals and organizations, the Deputy Prime Minister instructed the ministry to refine the legal framework to promote voluntary auctions while ensuring flexibility in implementation, low compliance costs, respect for owners' property rights, protection for buyers, transparency of information, and the prompt resolution of disputes where they arise.
