Phụ lục: Nghị định 60/2024/NĐ-CP

GOVERNMENT OF VIETNAM -------	SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness ----------------
No. 60/2024/ND-CP	Hanoi, June 5, 2024

 

DECREE

DEVELOPMENT AND MANAGEMENT OF MARKETS

Pursuant to the Law on Government Organization dated June 19, 2015;

Pursuant to the Law on Local Government Organization dated June 19, 2015;

Pursuant to the Law on Amendments to the Law on Government Organization and Law on Local Government Organization dated November 22, 2019;

Pursuant to the Law on Commercial dated June 14, 2005;

Pursuant to the Civil Code dated November 24, 2015;

Pursuant to the Law on Cultural Heritage dated June 29, 2001; the Law on amendments to the Law on Cultural Heritage dated June 18, 2009;

Pursuant to the Law on Construction dated June 18, 2014; the Law on amendments to the Law on Construction dated June 17, 2020;

Pursuant to the Law on State Budget dated June 25, 2015;

Pursuant to the Law on Promulgation of Legislative Documents dated June 22, 2015; the Law on amendments to the Law on Promulgation of Legislative Documents dated June 18, 2020;

Pursuant to the Law on Management and Use of Public Property dated June 21, 2017;

Pursuant to the Law on Planning dated November 24, 2017;

Pursuant to the Law on Public Investment dated June 13, 2019; the Law on amendments to the Law on Public-Private Partnership Investment, the Law on Investment, the Law on Housing, the Law on Procurement, the Law on Electricity, the Law on Enterprises, the Law on Special Excise Duties, and the Law on Enforcement of Civil Judgments dated January 11, 2022;

Pursuant to the Law on Investment dated June 17, 2020;

Pursuant to the Law on Enterprises dated June 17, 2020;

Pursuant to the Law on Bidding dated June 23, 2023;

At the request of the Minister of Industry and Trade of Vietnam;

The Government of Vietnam hereby promulgates the Decree on the development and management of markets.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Decree provides for policies and regulations on the development and management of markets, including investment in the construction of markets (including construction, repair, and renovation of construction works); market management and trading activity management at markets; management, use, and utilization of market infrastructure assets invested in and managed by the State.

Article 2. Regulated entities

Agencies, organizations, and individuals involved in the development and management of markets.

Article 3. Interpretation of terms

For the purpose of this Decree, the following terms shall be construed as follows:

1. “Market”, as revised in this Decree, refers to a market organized at a location under relevant development planning or plans to meet the demands for goods trading and exchange and the people’s demands for consumption.

2. “Market scope” is the area determined for market activities, including the area used for arranging trading points; administration houses; internal traffic; service areas (such as parking lots, toilet areas, warehouses, waste collection and treatment areas, dining areas, entertainment areas, and other services).

3. “Wholesale markets” are markets with goods from manufacturing and trading sources for distribution to other markets and other distribution and circulation channels.

4. “Traditional market” refers to a market for trading and exchanging goods manufactured and cultivated by the people and trading common and essential goods serving people’s lives.

5. “Trading points at a market” include stalls, stands, kiosks, and shops at fixed locations in the market scope according to the market construction design. A trading point shall have an area of at least 3 m² per point.

6. “Solid markets” refer to markets constructed to assure at least 10 years of use.

7. “Semi-solid markets” refer to markets constructed to assure at least 5 to 10 years of use.

8. “Temporary markets” refer to markets constructed in the planning but are not solidly or semi-solidly constructed; areas arranged by local authorities for temporary trading.

9. “Spontaneous trading points” refer to spontaneous trading points and areas not included in any local planning or plan for market development.

10. “Rural markets” refer to markets in administrative boundary areas, excluding wards of district-level towns, districts, and cities.

11. “Night markets” refer to markets organized at local areas and locations for night economy development, operating from 6 p.m. the previous night to 6 a.m. the next morning.

12. “Community markets” are places for trading and exchanging goods manufactured and cultivated by the people and trading common and essential goods permitted by competent authorities to serve relevant residential communities.

13. “Enterprises investing, trading, utilizing, and managing markets” refer to enterprises established and operated under the law investing, constructing, trading, utilizing, and managing markets.

14. “Cooperatives investing, trading, utilizing, and managing markets” refer to cooperatives established and operated under the law investing, constructing, trading, utilizing, and managing markets.

15. “Specialized agencies assigned to manage market infrastructure assets” refer to agencies of provincial People’s Committees, People’s Committees of communes assisting provincial People’s Committees, People’s Committees of communes implementing the state management of market infrastructure assets invested in and managed by the State in provinces (hereinafter referred to as “specialized market infrastructure asset agencies”).

16. “Market infrastructure assets” (including land and assets affixed to land) invested in and managed by the State include:

Market halls and works with canopies, administration houses of market management organizations within the market scope, toilet areas, warehouses, parking lots, waste collection and treatment areas, guard rooms, religious space (if any), and cold storages (if any);

Technical systems, including traffic work systems, water supply and drainage systems, electricity systems, information systems, surveillance camera systems, ventilation and air conditioning systems, fire prevention and firefighting systems, and waste collection systems;

Other works in the market scope.

Article 4. Market classification

1. Classification by trading methods:

a) A wholesale market is a market with functions prescribed in Clause 3 Article 3 of this Decree and meets the following criteria:

Scale (area): the market land area shall be at least 10.000 m², regardless of the area for the premises, roads, parking lots, and other auxiliary works.

Location: connection to types of traffic and convenience for goods circulation.

Work items:

Essential works: parking lots, water supply and drainage system, wastewater treatment systems, waste and scrap collection locations, toilet areas, warehouses, and goods parking lots;

Items with technical requirements: fire prevention and firefighting, food safety and environmental protection, and responses to climate change as prescribed by the law;

Items in the main area: goods trading areas by each subdivision for specific goods or industry (including wholesale areas and retail areas); areas of offices; areas for inspection, control, and quarantine (for imported and exported goods with animal and plant origins), traceability, and quality management; areas for classification and preliminary processing, processing, and packaging of goods; warehouses for goods delivery; service areas supporting essential services and areas for unloading and arranging goods for trucks and semi-trailer trucks.

Wholesale markets that have been invested in and constructed and are currently operating before the effective date of this Decree shall continue to operate following investment projects.

b) A traditional market is a market with purposes and functions prescribed in Clause 4 Article 3 of this Decree.

2. Market classification by scale:

a) Class-1 market:

A market with more than 400 trading points, invested in and solidly constructed under planning;

The market scope conforms with the operational scale of the market and is suitable for organizing mandatory activities such as vehicle parking and surveillance, public hygiene, and other activities.

a) Class-2 market:

A market with 200 trading points to 400 trading points, invested in and solidly or semi-solidly constructed under planning;

The market scope conforms with the operational scale of the market and is suitable for organizing mandatory activities such as vehicle parking and surveillance, public hygiene, and other activities.

a) Class-3 market:

A market with under 200 trading points that have yet to be invested in and solidly or semi-solidly constructed;

The market scope conforms with the operational scale of the market and is suitable for organizing mandatory activities such as public hygiene.

3. Market classification by origin:

a) Markets invested in by the state budget:

The construction investment and management and trading at markets shall comply with Chapters II and III of this Decree and relevant laws;

The management, use, and utilization of market infrastructure assets invested in and managed by the State shall comply with Chapter IV of this Decree.

b) Markets invested in by non-state budget sources (including other legal sources as prescribed by the law):

The construction investment and management and trading at markets shall comply with Chapters II and III of this Decree and relevant laws.

Chapter II

MARKET CONSTRUCTION INVESTMENT

Article 5. Market development plans

1. Provincial People’s Committees shall, based on provincial planning, provincial socio-economic development plans, and other relevant planning and development demands, promulgate market development plans to construct, renovate, and upgrade markets and attract investment in the development of market systems in their areas.

2. Main contents of a market development plan:

a) Legal grounds and necessity of the construction;

b) Objectives;

c) Tasks and solutions;

d) Market development schemes (construction investment, development, expansion, and renovation of the market and other relevant contents);

dd) Implementation.

Article 6. Market construction investment

1. Markets subject to construction investment shall conform with the provincial planning, provincial socio-economic development plans, and other relevant planning and plans.

2. Sources for investment in market construction include the state budget and non-state budget sources (including other legal sources according to the law).

3. The state budget shall be used to support construction investment of projects on traditional markets and wholesale markets according to public investment and state budget laws. Support for site clearance with funding from the state budget for wholesale markets shall comply with public investment laws and relevant laws.

4. Provinces shall proactively balance the state budget capital for investment or support the investment in the development of markets in their areas based on the actual situation, urgency, and conformity with public investment and state budget laws and other relevant laws.

5. The State shall encourage organizations, individuals, and traders of all economic components to invest in the construction of markets.

6. Market investment projects shall be eligible for policies on investment incentives, policies on investment credit of the State, and policies on private investment according to the law.

7. Depending on the investment and land use conditions, market construction investment projects shall comply with respective current laws.

Article 7. Rights and obligations of market construction investors

1. Rights of market construction investors:

a) Market construction investors may enjoy investment incentives and take out loans from development investment funds according to regulations of the Government of Vietnam on the organization and operation of local development investment funds;

b) Other rights according to the law.

2. Obligations of market construction investors:

a) Market construction investors shall implement the investment in the market construction following current regulations on investment and construction and relevant laws;

b) Market construction investors shall implement the maintenance during the market construction investment project period;

c) Investors engaging in the construction, reconstruction, or relocation of markets shall cooperate with competent authorities in disclosing listed information at the headquarters of competent state authorities and related locations and collecting feedback from concerned parties according to the law. The minimum time limit for information disclosure is 30 days (excluding holidays);

d) Investors engaging in the construction, reconstruction, or relocation of markets shall develop schemes and policies for supporting the transfer; ensure the maintenance of the activities of temporary markets; develop schemes to utilize, set up, and arrange trading points of markets and collect feedback from traders engaging in trading at markets;

dd) Investors engaging in the construction of new markets shall ensure compliance with the law on the arrangement of works in the market scope; regarding markets subject to renovation or upgrade, comply with regulations on fire prevention and firefighting, water supply and drainage, public hygiene, lighting, ventilation, and parking lots;

e) Other obligations as prescribed by the law.

Chapter III

MARKET MANAGEMENT ORGANIZATIONS AND TRADING ACTIVITIES AT MARKETS

Article 8. Market management organizations

Market management organizations include market construction investors; enterprises and cooperatives engaging in the investment, trading, utilization, and management of markets; organizations assigned to manage market infrastructure assets according to Clauses 1 and 2 Article 15 of this Decree; organizations engaging in the utilization of market infrastructure assets according to Articles 24 and 25 of this Decree.

Article 9. Entitlements and responsibilities of market management organizations

1. Organize and implement market management and other services serving the activities of markets according to this Decree and relevant laws.

2. Renovate, upgrade, and maintain markets as per regulation; ensure fire prevention and firefighting, environmental hygiene, water resource protection, security and order, food safety, and measurement within the market scope and trading areas.

3. Develop internal market regulations according to Article 10 of this Decree, administrate activities of markets following internal market regulations, and handle violations against internal market regulations within their jurisdiction.

4. Sign and carry out contracts with traders on leasing and using trading points at markets and other services as prescribed by the law.

5. Disseminate and provide information on relevant policies and laws for traders at markets.

6. Cooperate with competent authorities in implementing regulations on infectious disease prevention and control.

7. Summarize and submit reports on the activities of markets upon requests from competent authorities.

8. Maintain the activities of markets to ensure goods trading and exchange activities are in normal conditions and upon requests from competent authorities in necessary cases.

9. Aside from the obligations mentioned above, market management organizations shall, according to Clauses 1 and 2 Article 15, Article 24, and Article 25 of this Decree, manage and use public property in compliance with the law.

Article 10. Market internal regulations

1. A market internal regulation shall have the following main contents:

a) Opening time;

b) Rights and obligations of traders at the market;

c) Regulations on goods and trading services at the market;

d) Regulations on persons coming to transact, buy, sell, visit, and perform official work at the market;

dd) Regulations applicable to market management officials and employees;

e) Fire safety and natural disaster preparation and management;

a) Market security and order;

h) Environmental hygiene and food safety;

i) Civilized and commercial market and code of conduct;

k) Requirements for the organization and participation in social and cultural activities at the market;

l) Regulations on the handling of violations at the market;

m) Other regulations.

2. Market internal regulations shall be publicly and clearly listed at visible and easy-to-observe places in markets and disseminated to traders at markets.

3. Organizations and individuals trading and exchanging goods and services in markets and relevant organizations and individuals shall comply with the law and market internal regulations.

4. Acts of violations against market internal regulations shall be handled by market management organizations within their jurisdiction.

5. Provincial People’s Committees shall promulgate sample internal regulations for consistent market internal regulation development and application to all markets in their areas.

Article 11. Management of trading points at markets

1. Market management organizations shall:

a) Formulate schemes to utilize, set up, and arrange trading areas and use trading points at markets and provide notices for competent People’s Committees;

b) Sign contracts with traders leasing trading points according to schemes to utilize, set up, and arrange trading areas and use trading points at markets as prescribed by the law;

b) Set up and arrange traders using trading points according to schemes to utilize, set up, and arrange trading areas and use trading points at markets.

2. The rental terms of trading points at markets shall be agreed on by concerned parties unless otherwise prescribed by the law. Rental terms of trading points at markets shall be shown in contracts concluded between market management organizations and traders at markets.

3. Provincial People’s Committees shall instruct and stipulate the management of trading points at markets according to this Article, ensuring social security, food safety and hygiene, and order and security.

Article 12. Rights and obligations of traders at markets

1. Rights of traders at markets:

a) Traders with contracts for using or leasing trading points at markets may engage in trading activities under the concluded contracts;

b) Traders may transfer or lease out trading points that are still under contracts to other traders when receiving written approvals from market management organizations;

c) Non-regular traders shall be arranged to separate areas in markets and comply with market internal regulations.

2. Obligations of traders at markets:

a) Traders shall implement the schemes to set up and arrange trading areas of market management organizations;

b) Traders shall, aside from complying with the law, comply with market internal regulations and be under the management of market management organizations;

c) Goods and services of traders shall not be subject to cases banned from trading and meet the conditions prescribed by the law applicable to goods and services subject to trading restrictions or conditions;

d) Trading professions of traders shall not be those that are banned from trading and investment by the law and meet the conditions prescribed by the law applicable to conditional investment business lines.

Chapter IV

MANAGEMENT, USE, AND UTILIZATION OF MARKET INFRASTRUCTURE ASSETS INVESTED IN AND MANAGED BY THE STATE

Section 1. IMPLEMENTATION PRINCIPLES

Article 13. Principles of managing, using, and utilizing market infrastructure assets invested in and managed by the State

1. Competent state authorities shall assign market infrastructure assets to relevant entities for management and use in conformity with specific conditions concerning market scales and socio-economic characteristics of each province and the law.

Assignment of land, lease of land, collection, exemption, reduction of land rents, and management and use of market infrastructure assets affixed to land shall comply with land laws and relevant laws.

2. Provincial People’s Committees shall decide to assign specific agencies to carry out the state management of market infrastructure assets in their areas, ensuring consistency, specific authority decentralization, and responsibilities of each agency and the responsibility for cooperation between agencies in conformity with market scales, laws, and local socio-economic characteristics.

3. The State shall encourage the privatization to mobilize and diversify resources to maintain, develop, and utilize market infrastructure assets.

4. Market infrastructure assets shall be subject to adequate statistics and accounting concerning items and values, be depreciated and have their depreciation calculated, and be subject to asset maintenance according to the law. Entities assigned to manage market infrastructure assets as prescribed in Clauses 1 and 2 Article 15 of this Decree and relevant organizations shall carry out accounting under current regulations.

5. The management, use, handling, and utilization of market infrastructure assets shall ensure publicity and transparency; ensure social security objectives; have schemes for relocation and reasonable compensation; ensure security and order; prevent loss of state assets; be supervised, inspected, and audited; conform with relevant planning; preserve works with historical, cultural, and architectural values. Any violation against management, use, and utilization laws shall be promptly and strictly handled under the law.

6. Regarding the management, use, and utilization of market infrastructure assets that are inefficient or unconformable with planning approved by competent authorities or initial use purposes of the assets, the expropriation of land with assets shall comply with land laws and relevant laws.

Article 14. Principles of handling assets after conversion of operational models of entities with assigned market infrastructure assets

1. The asset handling during the conversion of operational models of public service providers into joint-stock companies with state capital shall comply with regulations on the conversion of public service providers into joint-stock companies.

2. The asset handling during the conversion of operational models from state-owned enterprises to joint-stock companies with state capital shall comply with state-owned enterprise equitisation laws.

Section 2. MARKET INFRASTRUCTURE ASSET ASSIGNMENT

Section 15. Entities and forms of market infrastructure asset assignment

1. Entities subject to market infrastructure asset assignment managed by provincial authorities:

a) Public service providers;

b) Enterprises whose charter capital is 100% owned by the State (hereinafter referred to as “state-owned enterprises”);

c) Provincial specialized market infrastructure asset agencies.

2. Entities subject to market infrastructure asset assignment managed by district-level authorities:

a) Public service providers;

b) People’s Committees of communes;

c) District-level specialized market infrastructure asset agencies.

3. Forms of market infrastructure asset assignment:

a) Assignment of market infrastructure assets in the form of recording of increases in assets to public service providers prescribed in Point a Clause 1 and Point a Clause 2 of this Article (hereinafter referred to as “units”) and People’s Committees of communes prescribed in Point b Clause 2 of this Article (hereinafter referred to as “agencies”);

b) Assignment to state-owned enterprises for management in the form of state investment in enterprises for the implementation of market trading according to the law on management and use of state capital invested in manufacturing and trading at enterprises, the law on enterprises, and relevant laws;

c) Assignment to specialized market infrastructure asset agencies to formulate utilization schemes in cases where assets have been assigned to units or agencies, but the management, use, and utilization are inefficient.

Article 16. Authority to decide; procedures for market infrastructure asset assignment managed by provincial authorities

1. Authority to decide on market infrastructure asset assignment

Provincial People’s Committees shall consider deciding on the assignment of market infrastructure assets under the local management to state-owned enterprises, units, and specialized market infrastructure asset agencies under their management.

2. Procedures for deciding on infrastructure assets of markets subject to investment in construction and infrastructure assets of markets under established all-people ownership:

a) The project investor (regarding infrastructure assets of a market subject to investment in construction) or the unit presiding over the asset management (regarding infrastructure assets of a market under established all-people ownership according to Article 101 of the Law on Management and Use of Public Property) shall submit a written document enclosed with an application concerning assets to the provincial specialized market infrastructure asset agency. The application includes:

Statement of the project investor/unit presiding over the asset management on the assignment of assets to an entity for management: 1 original copy;

Decision on approval for the construction investment project: 1 original copy;

Written request for the asset assignment of the relevant entity (in case of expected asset assignment to a state-owned enterprise or unit): 1 original copy;

List of assets requested for assignment (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any): 1 original copy;

Testing record for putting assets into use (regarding assets subject to investment in construction): 1 original copy;

Decision on all-people ownership establishment (regarding assets under established all-people ownership according to Article 106 of the Law on Management and Use of Public Property): 1 original copy;

As-built document (regarding works subject to investment in construction): 1 copy;

Other relevant documents (if any): 1 copy.

b) Within 60 days from the date of receipt of the adequate application prescribed in Point a of this Clause, the provincial specialized market infrastructure asset agency shall take charge and cooperate with relevant local agencies and units in requesting the provincial People’s Committee consider issuing a decision on asset assignment. Contents of the decision on asset assignment:

Name of the entity subject to asset assignment;

Asset assignment form;

List of assets (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any);

Implementation responsibilities.

3. Within 30 days from the date of receipt of the decision on market infrastructure asset assignment of the provincial People’s Committee, relevant agencies, units, and enterprises shall implement the delivery and receipt of assets. The delivery and receipt of assets shall be made in writing following Form No. 05 in Appendix I of this Decree.

4. After receiving market infrastructure assets, the management and use of such assets shall be carried out as follows:

a) In the case of assigning market infrastructure assets in the form of state investment in enterprises, the management, use, and utilization of such assets shall comply with the law on the management and use of public capital invested in manufacturing and trading at enterprises, relevant laws, and the following regulations:

The implementation of rights and obligations of enterprises relevant to market infrastructure assets shall ensure the ownership of the State over market infrastructure assets assigned to enterprises for management;

It is forbidden to use market infrastructure assets for mortgage or implementation of measures to ensure the fulfillment of other civil obligations;

It is forbidden to convert the functions associated with land repurposing;

Regarding market works that are no longer required to be used for market purposes that enterprises voluntarily return, including the land associated with such works, to local authorities, the compensation and implementation support shall comply with land laws;

It is mandatory to adequately implement regulations on reports on the management and use of market infrastructure assets according to this Decree;

The completion of legal documents on land and management and use of land associated with market infrastructure assets shall comply with land laws and relevant laws.

b) Regarding assets assigned to specialized market infrastructure asset agencies or units for management, the management, use, and utilization shall comply with this Decree. Agencies and units with assigned assets shall manage and use land associated with market infrastructure assets according to land laws and relevant laws.

Article 17. Authority to decide; procedures for market infrastructure asset assignment managed by district-level authorities

1. District-level People’s Committees shall consider deciding on the assignment of market infrastructure assets under their management.

2. Procedures for deciding on market infrastructure asset assignment:

a) The project investor (regarding infrastructure assets of a market subject to investment in construction) or the unit presiding over the asset management (regarding infrastructure assets of a market under established all-people ownership according to Article 101 of the Law on Management and Use of Public Property) shall submit a written document enclosed with an application concerning assets to the district-level specialized market infrastructure asset agency. The application includes:

Statement of the project investor/unit presiding over the asset management on the assignment of assets to an entity for management: 1 original copy;

Decision on approval for the construction investment project: 1 original copy;

Written request for the asset assignment: 1 original copy;

List of assets requested for assignment (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any): 1 original copy;

Testing record for putting assets into use (regarding assets subject to investment in construction): 1 original copy;

Decision on all-people ownership establishment (regarding assets under established all-people ownership according to Article 106 of the Law on Management and Use of Public Property): 1 original copy;

As-built document (regarding works subject to investment in construction): 1 copy;

Other relevant documents (if any): 1 copy.

b) Within 60 days from the date of receipt of the adequate application prescribed in Point a of this Clause, the district-level specialized market infrastructure asset agency shall take charge and cooperate with relevant local agencies and units in requesting the district-level People’s Committee to consider issuing a decision on asset assignment. Contents of the decision on asset assignment:

Name of the entity subject to asset assignment;

Asset assignment form;

List of assets requested for assignment (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any);

Implementation responsibilities.

3. Within 30 days from the date of receipt of the decision on market infrastructure asset assignment of the district-level People’s Committee, relevant agencies and units shall implement the delivery and receipt of assets. The delivery and receipt of assets shall be made in writing following Form No. 05 in Appendix I of this Decree.

4. After receiving market infrastructure assets, the management and use of such assets shall comply with this Decree. Agencies and units with assigned assets shall manage and use land associated with market infrastructure assets according to land laws and relevant laws.

Section 3. DOCUMENTS ON MARKET INFRASTRUCTURE ASSET MAINTENANCE, ACCOUNTING, AND MANAGEMENT

Article 18. Market infrastructure asset management documents

1. A market infrastructure asset management document includes:

a) Documents relevant to the generation and fluctuation of assets:

Decision on asset transfer of the competent authority or person; asset delivery record;

Legal documents on land (decision on land assignment or land lease; land lease contract; certificate of rights to use land and assets affixed to land);

Other relevant documents.

b) First-time declaration report and/or additional declaration report according to Article 34 of this Decree (following Forms No. 01A, 01B, 01C, and 01D in Appendix I of this Decree).

c) Report on the management, use, and utilization of assets according to Section 4 and Section 5 Chapter IV of this Decree (following Forms No. 02A, 02B, 02C, 02D, 03A, 03B, 03C, 03D, and 03DD in Appendix I of this Decree).

d) Information in the database on market infrastructure assets according to Article 35 of this Decree.

2. Agencies, units, enterprises, and specialized market infrastructure asset agencies assigned to manage market infrastructure assets shall prepare, manage, and archive documents on assets under the law and submit reports according to this Decree.

Article 19. Market infrastructure asset accounting

1. Agencies and units assigned to manage market infrastructure assets shall:

a) Open accounting books and implement asset accounting according to accounting laws and this Decree;

b) Submit reports on the increase, decrease, depreciation, and depreciation calculation according to the law.

2. Principles of accounting book recording in certain cases:

a) Regarding market infrastructure assets in use before the effective date of this Decree with information on their values in accounting books, use such information for accounting book recording.

b) Regarding market infrastructure assets in use before the effective date of this Decree but are not monitored or recorded in accounting books, use the values according to reassessment or values of the investment in works with equivalent levels, grades, and capacity scales after deducting the values of the use time for accounting book recording.

c) Regarding market infrastructure assets procured, constructed, and completed for use from the effective date of this Decree, use the procurement and settlement values for accounting book recording as per regulation.

Where assets are constructed and completed for use, but the settlement is not approved by competent authorities or persons, use the provisional unit prices for accounting book recording. The provisional unit prices shall be determined according to the following order of priority: settlement request prices; values determined under testing records A-B, and estimated values of the approved projects. When the settlement is approved, accountants shall revise the values recorded in accounting books according to accounting laws.

d) Where market infrastructure assets currently under management and in use are repaired, upgraded, or expanded under projects approved by competent authorities or persons, accountants shall record increases in the values of assets following the approved settlement values during the settlement of such projects.

Article 20. Market infrastructure asset maintenance

1. Market infrastructure assets shall be maintained following specific orders, processes, plans, standards, and norms to maintain the technical status of assets, ensuring normal operations and safety during use and utilization.

2. The determination of the costs of market infrastructure asset maintenance shall comply with the law on the costs of maintenance of construction works.

3. The costs of the maintenance of market infrastructure assets shall be included in the costs of market trading during the accounting periods of units assigned to manage market infrastructure assets according to accounting laws and relevant laws.

4. In case of leasing rights to utilize assets or transfer rights to utilize assets for specific terms and the contracts stipulate that the lessees or the receiving entities are responsible for maintaining the assets, the lessees and receiving entities shall carry out the maintenance according to the law and the concluded contracts using their funding sources.

5. Regarding assets assigned to state-owned enterprises as prescribed in Point b Clause 1 Article 15 of this Decree, the asset maintenance shall comply with construction laws, enterprise laws, and relevant laws.

6. Regarding assets assigned to units, agencies, or specialized market infrastructure assets agencies prescribed in Points a and c Clause 1 and Clause 2 Article 15 of this Decree, provincial People’s Committees shall, based on specific conditions, consider deciding on the allocation of funding for asset maintenance from revenues from the utilization and handling of market infrastructure assets or the state budget (in cases where revenues are inefficient to cover expenses). Funding for maintenance covered by the state budget shall comply with state budget laws.

Article 21. Market infrastructure asset maintenance implementation

1. Procedures for formulating and approving plans and funding estimates for market infrastructure asset maintenance shall comply with state budget laws:

a) Agencies and units assigned to manage assets shall, based on the technical standards, norms, maintenance unit prices, and work volume requiring implementation, formulate plans and funding estimates for asset maintenance (excluding cases of asset maintenance prescribed in Clause 4 and 5 Article 20 of this Decree) and submit reports to superior management authorities (if any) for presentation to provincial People’s Committees for assessment and inclusion in annual state budget estimates according to state budget laws;

b) Provincial People’s Committees shall, based on decisions on stage budget allocation of competent authorities or persons, allocate state budget estimates for market infrastructure asset maintenance to agencies and units assigned to manage assets;

c) Agencies and units assigned to manage market infrastructure assets shall implement state budget estimates concerning asset maintenance according to the law.

2. Procedures for formulating and approving plans and funding estimates for 3-year medium-term asset maintenance and 5-year implementation shall comply with the law on 3-year financial plans – state budget and 5-year financial plans.

3. The selection of units for market infrastructure asset maintenance shall comply with bidding laws and relevant laws, excluding cases where the State places orders or assigns tasks under the regulations of the Government of Vietnam on the manufacturing and provision of public products and services or assigns the maintenance to building contractors under the law.

4. The payment and settlement of funding for market infrastructure asset maintenance shall comply with state budget laws and relevant laws.

Section 4. MARKET INFRASTRUCTURE ASSET UTILIZATION

Article 22. Methods of utilizing market infrastructure assets

1. Directly implementing the utilization of market infrastructure assets.

2. Leasing rights to utilize market infrastructure assets.

3. Transferring rights to utilize market infrastructure assets for specific terms.

4. Other methods as prescribed by law.

Article 23. Direct implementation of market infrastructure asset utilization

1. Agencies, units, and enterprises with assigned market infrastructure assets shall directly implement the utilization of assets following schemes to utilize, set up, and arrange trading professions and use trading points at markets according to this Decree.

2. Agencies, units, and enterprises with assigned market infrastructure assets shall carry out specific work to ensure the operation of markets.

Article 24. Lease of rights to utilize market infrastructure assets

1. The lease of rights to utilize market infrastructure assets shall apply to existing market infrastructure assets (not associated with the investment in the upgrade or expansion according to projects approved by competent authorities). The lease of rights to utilize market infrastructure assets shall apply to assets assigned to specialized market infrastructure asset agencies, units, and agencies for management and not apply to assets assigned to enterprises for management.

The lease terms of rights to utilize market infrastructure assets shall be determined in schemes to lease rights to utilize market infrastructure assets.

2. Authority to approve schemes to lease rights to utilize market infrastructure assets:

a) Provincial People’s Committees shall approve schemes to lease rights to utilize market infrastructure assets for market infrastructure assets under the management of provincial authorities.

b) District-level People’s Committees shall approve schemes to lease rights to utilize market infrastructure assets for market infrastructure assets under the management of district-level authorities.

c) Regarding market infrastructure assets relevant to national defense and security, provincial People’s Committees shall, based on feedback collected from the Ministry of Public Security of Vietnam and the Ministry of National Defense of Vietnam and relevant ministries and central authorities, submit reports to the Prime Minister of Vietnam for approval for guidelines before approving schemes under their jurisdiction.

3. The lease of market infrastructure assets shall be implemented through auction. Aside from the conditions prescribed by auction laws, bidders for lease of rights to utilize market infrastructure assets shall satisfy the following conditions:

a) Having decisions on functions, tasks, entitlements, and organizational structure of competent authorities or persons regarding units or certificates of enterprise registration or certificates of cooperative registration regarding enterprises or cooperatives according to Clauses 13 and 14 Article 3 of this Decree.

b) Having financial capability and capacity and experience in managing, operating, and utilizing markets.

4. Procedures for leasing rights to utilize market infrastructure assets:

a) Entities assigned to manage assets shall formulate schemes to lease rights to utilize assets following Form No. 04A in Appendix I of this Decree and send written requests to specialized market infrastructure asset agencies (in cases where entities assigned to manage assets are not specialized market infrastructure asset agencies). Regarding market infrastructure assets assigned to district-level agencies or units for management, agencies and units assigned to manage assets shall formulate schemes, submit reports to district-level People’s Committees, and send written requests to provincial specialized market infrastructure asset agencies;

b) Within 45 days from the date of receipt of written requests enclosed with schemes prescribed in Point a of this Clause, provincial specialized market infrastructure asset agencies shall take charge and cooperate with relevant agencies and units in appraising schemes and presenting them to competent People’s Committees prescribed in Clause 2 of this Article for assessment and approval. Main contents of decisions on approval for schemes to lease rights to utilize market infrastructure assets:

Entities with assets carrying out the lease of utilization rights;

List of leased assets (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any);

Lease terms of utilization rights;

Methods of leasing utilization rights;

Management of revenues from leasing utilization rights;

Implementation responsibilities.

5. Entities assigned to manage assets shall, based on schemes to lease rights to utilize market infrastructure assets approved by competent authorities or persons, have the following responsibilities:

a) Determine the opening bid for leasing rights to utilize assets according to Article 26 of this Decree;

b) Auction the lease of rights to utilize assets according to property auction laws;

c) Sign contracts for leasing rights to utilize assets according to the law.

6. Contracts for leasing rights to utilize market infrastructure assets include:

a) Information of lessors;

b) Information of lessees;

c) List of assets subject to lease of utilization rights (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any): 1 original copy;

d) Lease terms; lease prices; methods and deadlines for payment of rental or late payment interests (if any); asset maintenance responsibility;

dd) Rights and obligations of concerned parties;

e) Implementation responsibilities.

7. Rights of lessees of rights to utilize market infrastructure assets:

a) Directly operate and utilize assets according to the law and concluded contracts;

b) Decide on the operation and utilization of assets in conformity with relevant laws;

c) Collect revenues from market operations according to the law and concluded contracts;

d) Perform other rights of lessees of rights to utilize assets according to the law.

8. Obligations of lessees of rights to utilize market infrastructure assets:

a) Protect leased assets; prevent encroachment or illegal use of assets;

b) Use and utilize leased assets for proper purposes; prevent repurposing, transfer, sale, donation, contribution, mortgage, or implementation of measures to fulfill other civil obligations;

c) Maintain assets according to concluded contracts and the law;

d) Pay asset utilization right rental adequately and punctually according to contracts;

dd) Periodically or upon requests from lessors, provide notices for lessors regarding the status of assets and assurance of the activities of markets.

In case of work problems, lessees shall promptly provide notices for lessors for the implementation of handling measures according to the law;

e) Be under the inspection and supervision of lessors; cooperate with lessors in solving difficulties;

g) Perform other obligations as prescribed by law and contracts.

9. Specialized market infrastructure asset agencies shall regularly inspect and supervise the implementation of schemes to lease rights to utilize market infrastructure assets approved by competent authorities and persons.

10. Revenues from leasing rights to utilize market infrastructure assets shall be managed and used according to Article 32 of this Decree.

Article 25. Term-based transfer of rights to utilize market infrastructure assets

1. The term-based transfer of rights to utilize market infrastructure assets shall apply to existing market infrastructure assets associated with the investment in the upgrade or expansion according to projects approved by competent authorities. The term-based transfer of rights to utilize market infrastructure assets shall only apply to assets assigned to specialized market infrastructure asset agencies and units for management and not apply to assets assigned to enterprises for management.

Terms of the transfer of rights to utilize assets shall be determined in schemes to transfer rights to utilize market infrastructure assets and contracts for the transfer of rights to utilize market infrastructure assets. A term shall be up to 50 years.

2. Authority to approve schemes for term-based transfer of rights to utilize market infrastructure assets:

a) Provincial People’s Committees shall approve schemes for term-based transfer of rights to utilize market infrastructure assets;

b) Regarding market infrastructure assets relevant to national defense and security, provincial People’s Committees shall, based on feedback collected from the Ministry of Public Security of Vietnam and the Ministry of National Defense of Vietnam and relevant ministries and central authorities, submit reports to the Prime Minister of Vietnam for approval for guidelines before approving schemes under their jurisdiction.

3. The term-based transfer of rights to utilize market infrastructure assets shall be implemented through auction. Aside from the conditions prescribed by auction laws, bidders for transfers of rights to utilize market infrastructure assets shall satisfy the following mandatory conditions:

a) Having decisions on functions, tasks, entitlements, and organizational structure of competent authorities or persons regarding units or certificates of enterprise registration or certificates of cooperative registration regarding enterprises or cooperatives according to Clauses 13 and 14 Article 3 of this Decree.

b) Having financial capability and capacity and experience in managing, operating, and utilizing markets.

4. Procedures for formulating and approving schemes for term-based transfer of rights to utilize market infrastructure assets:

a) Entities assigned to manage assets shall formulate schemes for term-based transfer of rights to utilize assets following Form No. 04B in Appendix I of this Decree and send written requests to provincial specialized market infrastructure asset agencies (in cases where entities assigned to manage assets are not specialized market infrastructure asset agencies). Regarding market infrastructure assets assigned to district-level agencies or units for management, agencies and units assigned to manage assets shall formulate schemes, submit reports to district-level People’s Committees, and send written requests to provincial specialized market infrastructure asset agencies;

b) Within 45 days from the date of receipt of written requests enclosed with schemes prescribed in Point a of this Clause, provincial specialized market infrastructure asset agencies shall take charge and cooperate with relevant agencies and units in appraising schemes and presenting them to provincial People’s Committees for assessment and approval. Main contents of decisions on approval for schemes for term-based transfer of rights to utilize market infrastructure assets:

Entities with assets carrying out the term-based transfer of utilization rights;

List of assets subject to term-based transfer (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any);

Terms of transfer of utilization rights;

Methods of implementing the term-based transfer of utilization rights;

Management of revenues from the term-based transfer of utilization rights;

Implementation responsibilities.

5. Entities assigned to manage assets shall, based on schemes for term-based transfer of rights to utilize market infrastructure assets approved by competent authorities or persons, have the following responsibilities:

a) Determine the opening bid for the term-based transfer of rights to utilize assets according to Article 26 of this Decree;

b) Auction the term-based transfer of rights to utilize assets according to property auction laws;

c) Sign contracts for term-based transfer of rights to utilize assets according to the law.

6. Contracts for term-based transfer of rights to utilize market infrastructure assets include:

a) Information of transferring parties;

b) Information of receiving parties;

c) List of assets subject to term-based transfer (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, asset values, and assessment of the status of assets – if any);

d) Transfer terms; transfer fees; methods and deadlines for payment of transfer fees or late payment interests (if any); asset maintenance responsibility;

dd) Rights and obligations of concerned parties;

e) Implementation responsibilities.

7. Rights of receiving parties:

a) Directly operate and utilize assets according to the law and concluded contracts;

b) Decide on the operation and utilization of assets in conformity with relevant laws;

c) Collect revenues from market operations according to the law and concluded contracts;

d) Invest in the upgrade and expansion according to projects approved by competent authorities according to investment laws and relevant laws;

dd) Perform other rights of receiving parties according to the law.

8. Obligations of receiving parties:

a) Protect transferred assets; prevent encroachment or illegal use of assets;

b) Use and utilize transferred assets for proper purposes; prevent repurposing, transfer, sale, donation, contribution, mortgage, or implementation of measures to fulfill other civil obligations;

c) Maintain assets according to concluded contracts and the law;

d) Pay transfer fees adequately and punctually according to contracts;

dd) Periodically or upon requests from transferring parties, provide notices for transferring parties regarding the status of assets and assurance of the activities of markets.

In case of work problems, receiving parties shall promptly provide notices for transferring parties for the implementation of handling measures according to the law;

e) Be under the inspection and supervision of transferring parties; cooperate with transferring parties in solving difficulties;

g) Perform other obligations as prescribed by law and contracts.

9. Specialized market infrastructure asset agencies shall regularly inspect and supervise the implementation of schemes for term-based transfer of rights to utilize market infrastructure assets approved by competent authorities and persons.

10. Revenues from the term-based transfer of rights to utilize market infrastructure assets shall be managed and used according to Article 32 of this Decree.

11. After the end of a term for the transfer of rights to utilize market infrastructure assets according to the contract for the transfer of utilization rights or in case of premature termination of the contract for the transfer of utilization rights under a decision of the competent authority or person, the handling of assets shall be carried out as follows:

a) Within 6 months before the date of the termination of the contract for the transfer of utilization rights, the receiving party shall send a written request for the re-transfer of assets to the authority concluding the contract;

b) Within 30 days from the date of receipt of the written request for the re-transfer of assets, the authority concluding the contract shall take charge and cooperate with relevant agencies and units (if necessary) in:

Appraising the quality, value, and status of assets according to the principles and conditions agreed on in the contract;

Formulating a list of transferred assets;

Formulating a record on the determination of damage to assets (if any) to request the receiving party to repair and maintain the assets;

Signing the record of asset transfer in case market infrastructure assets meet relevant requirements;

Submitting reports to the provincial People’s Committee on the assignment of assets to an agency, unit, or enterprise according to this Decree for continuation of the management and operation under the law.

c) Within 5 days from the termination of the contract, the receiving party shall hand over the assets to the transferring party. The delivery and receipt of assets shall be made in writing following Form No. 05 in Appendix I of this Decree.

Article 26. Prices of lease and term-based transfer of rights to utilize market infrastructure assets

1. Prices of lease or term-based transfer of rights to utilize market infrastructure assets are amounts that lessees or receiving parties of rights to utilize market infrastructure assets shall pay to the State following the bid-winning prices for use and utilization of assets under concluded contracts.

2. Competent authorities and persons approving schemes for lease or term-based transfer of rights to utilize market infrastructure assets according to Clause 2 Article 24 and Clause 2 Article 25 of this Decree are competent authorities and persons approving the starting prices for the auction of lease or term-based transfer of rights to utilize market infrastructure assets.

3. Entities with assigned assets shall choose to hire valuation enterprises to determine the value of assets following the Vietnam Valuation Standard or establish pricing councils to determine the starting prices for the auction of lease or term-based transfer of rights to utilize market infrastructure assets. The composition of a pricing council includes: the head of the unit with assigned assets or a person authorized as the president; other members: representatives of relevant specialized departments of the entity with assigned assets; representatives of the Department of Finance where the assets are located; representatives of other relevant agencies (if any).

4. The starting price for auctioning the lease of rights to utilize market infrastructure assets is the lowest initial price when auctioning the lease of rights to utilize market infrastructure assets.

The determination of the starting price for auctioning the lease of rights to utilize market infrastructure assets shall be based on at least one of the following grounds:

a) Prices for the lease of rights to asset utilization on the market of assets of the same type or the same technical standards, quality, and functions at the time of determination (if any);

b) Estimated revenues and costs from the asset utilization during the lease time of asset utilization rights;

c) Valuation certificates and valuation reports of valuation enterprises according to price laws or results of the pricing results of the pricing councils prescribed in Clause 3 of this Article. The use of valuation certificates and valuation reports of valuation enterprises shall comply with price laws.

5. The starting price for auctioning the term-based transfer of rights to utilize market infrastructure assets is the lowest initial price when auctioning the term-based transfer of rights to utilize market infrastructure assets.

Grounds to determine the starting prices for auctioning the term-based transfer of rights to utilize market infrastructure assets:

a) Additional investment values according to projects on upgrade and extension of assets approved by competent authorities or persons.

Specifically, additional investment values are the values within the responsibilities of receiving parties according to projects approved by competent authorities or persons;

b) Estimated revenues and costs from the asset utilization by receiving parties during the time of term-based transfer of asset utilization rights;

c) Valuation certificates and valuation reports of valuation enterprises according to price laws or results of the pricing results of the pricing councils prescribed in Clause 3 of this Article. The use of valuation certificates and valuation reports of valuation enterprises shall comply with price laws.

6. Entities with assigned market infrastructure assets shall determine starting prices for auctioning the lease or term-based transfer of rights to utilize market infrastructure assets and present them to competent authorities or persons prescribed in Clause 2 of this Article for approval.

Section 5. MARKET INFRASTRUCTURE ASSET HANDLING

Article 27. Forms of market infrastructure asset handling

Forms of market infrastructure asset handling include:

1. Withdrawal.

2. Transfer.

3. Liquidation.

4. Handling in case of loss or damage.

5. Other handling forms as prescribed by the law.

Article 28. Market infrastructure asset withdrawal

1. Market infrastructure assets shall be withdrawn in the following cases:

a) Land associated with market infrastructure assets is subject to cases of land expropriation according to land laws;

b) Upon changes to planning, causing changes to tasks of assets;

c) Upon changes to management decentralization;

d) Assets are assigned to incorrect entities according to this Decree;

dd) Assigned assets are no longer required for use or upon severe violations during management according to the law;

e) Other cases as prescribed by law.

2. Authority to decide on the withdrawal:

a) Provincial People’s Committees shall decide on the withdrawal of market infrastructure assets managed by provincial authorities;

b) District-level People’s Committees shall decide on the withdrawal of market infrastructure assets managed by district-level authorities;

c) Regarding assets subject to the case prescribed in Point a Clause 1 of this Article, the authority to withdraw, compensate, and support upon withdrawal and the management and handling of land and assets affixed to land shall comply with land laws and relevant laws. Before deciding on the withdrawal, provincial People’s Committees shall assign provincial agencies of natural resources and environment to collect written feedback from agencies with assigned tasks of managing provincial public assets, provincial specialized market infrastructure asset agencies, district-level People’s Committees where assets are located, and other relevant agencies regarding contents within the scope of assigned functions and tasks of such agencies.

3. Withdrawn market infrastructure assets shall be handled as follows:

a) Comply with land laws for the case prescribed in Point a Clause 1 of this Article;

b) Assign or transfer assets to other entities for management according to this Decree, excluding cases of handling according to Point a of this Clause.

4. Procedures for withdrawing market infrastructure assets prescribed in Points b, c, d, dd, and e Clause 1 of this Article:

a) Agencies, units, and enterprises with assets shall formulate applications for asset withdrawal and send them to specialized market infrastructure asset agencies of the same level. An application includes:

Written request for asset withdrawal (specifying which cases the withdrawn assets fall under according to Points b, c, d, dd, and e Clause 1 of this Article): 1 original copy.

List of assets requested for withdrawal (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, and asset values): 1 original copy.

Other relevant documents (if any): 1 copy.

b) Within 45 days from the date of receipt of the adequate application prescribed in Point a of this Clause, the specialized market infrastructure asset agency shall take charge and cooperate with relevant agencies and units in submitting a report to the competent People’s Committee prescribed in Clause 2 of this Article for consideration for issuing a withdrawal decision. The report includes:

Statement of the specialized market infrastructure asset agency or inter-sectoral agency on the asset withdrawal: 1 original copy.

List of assets requested for withdrawal (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, and asset values): 1 original copy.

Inter-sectoral meeting minutes or written feedback of relevant agencies or units: 1 copy.

Application prescribed in Point a of this Clause: 1 copy.

c) Within 30 days from the date of receipt of the adequate application as prescribed in Point b of this Clause, the competent People’s Committee prescribed in Clause 2 of this Article shall consider issuing a decision to withdraw market infrastructure assets or a written reply in case the request for asset withdrawal is unconformable. Contents of the decision on asset withdrawal shall comply with Clause 6 of this Article.

d) Within 30 days from the issuance date of the decision on asset withdrawal of the competent People’s Committee prescribed in Clause 2 of this Article, the specialized market infrastructure asset shall formulate a scheme to handle withdrawn assets following the forms prescribed in Clause 3 of this Article and present it to the competent authority or person according to Articles 16, 17, and 29 of this Decree for consideration and decision. The implementation of the decision on asset handling shall comply with Articles 16, 17, and 29 of this Decree.

While waiting for the handling of withdrawn assets, the agency, unit, or enterprise with assets subject to withdrawal shall preserve and protect such assets and ensure the operation according to the law.

5. Procedures for withdrawing market infrastructure assets shall be through inspection, audit, imposition of fines, or requests of specialized market infrastructure asset agencies and other state management agencies.

Competent People’s Committees prescribed in Clause 2 of this Article shall, based on the conclusion, decision, or request of agencies with functions of inspection, audit, or imposition of fines, specialized market infrastructure asset agencies, or other state management agencies, consider issuing asset withdrawal decisions.

6. Main contents of a decision to withdraw market infrastructure assets:

a) Name of the agency, unit, or enterprise with assets subject to the withdrawal;

b) List of withdrawn assets (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, and asset values);

c) Implementation responsibilities.

Article 29. Market infrastructure asset transfer

1. Market infrastructure assets shall be transferred in the following cases:

a) Upon changes to management agencies or management decentralization;

b) Assigned assets are no longer required for use or the utilization is ineffective;

c) Other cases as prescribed by the law.

2. Provincial People’s Committees shall decide or decentralize relevant authorities to decide to transfer market infrastructure assets among agencies and units under their management.

3. Procedures for transferring market infrastructure assets:

a) Agencies, units, and enterprises with assets subject to cases prescribed in Clause 1 of this Article shall formulate applications for asset transfer and send them to specialized market infrastructure asset agencies of the same level. An application includes:

Written request for asset transfer (specifying which cases the transferred assets fall under according to Clause 1 of this Article): 1 original copy.

Written request for the asset receipt: 1 original copy.

List of assets requested for transfer (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, and asset values): 1 original copy.

Other relevant documents (if any): 1 copy.

Regarding market infrastructure assets managed by district-level authorities and the authority to decide on the asset transfer belongs to the provincial People’s Committee according to the decentralization prescribed in Clause 2 of this Article, the district-level specialized market infrastructure asset agency shall take charge and cooperate with relevant agencies and units in providing a presentation to the district-level People’s Committee for consideration and sending a written request enclosed with a copy of the application mentioned above to the provincial specialized market infrastructure asset agency.

b) Within 45 days from the date of receipt of the adequate application prescribed in Point a of this Clause, the specialized market infrastructure asset agency shall take charge and cooperate with relevant agencies and units in submitting a report to the competent People’s Committee prescribed in Clause 2 of this Article for consideration for issuing an asset transfer decision. The report includes:

Statement of the specialized market infrastructure asset agency or inter-sectoral agency on the asset transfer: 1 original copy.

List of assets requested for transfer (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, and asset values): 1 original copy.

Inter-sectoral meeting minutes or written feedback of relevant agencies or units: 1 copy.

Application prescribed in Point a of this Clause: 1 copy.

c) Within 30 days from the date of receipt of the adequate application as prescribed in Point b of this Clause, the competent People’s Committee prescribed in Clause 2 of this Article shall consider issuing a decision to transfer market infrastructure assets or a written reply in case the request for asset transfer is unconformable. Contents of the decision on asset transfer:

Agency or unit with assets subject to transfer;

Agency or unit receiving assets subject to transfer;

List of assets transferred transfer (names of assets, address, types of works, construction year, operation year, area, number of trading points at the market, and asset values);

Reasons for the transfer (specifying which cases the transferred assets fall under according to Clause 1 of this Article);

Implementation responsibilities.

4. Within 30 days from the issuance date of the decision on asset transfer of the competent authority, the agency or unit with assets subject to the transfer and the agency or unit receiving the assets shall organize the delivery and receipt of assets; the delivery and assets shall be made in writing; the accounting of the increase or decrease in assets shall comply with current accounting regulations; declaration reports on asset fluctuation shall comply with Article 34 of this Decree.

5. The reasonable costs concerning the delivery and receipt of assets shall be paid by the agency or unit receiving the assets as per regulation.

Article 30. Market infrastructure asset liquidation

1. Market infrastructure assets shall be liquidated in the following cases:

a) Assets are damaged beyond repair or the repair is ineffective (it is impossible to restore the functions of assets);

b) Old assets are demolished for investment in the construction of new assets according to projects approved by competent authorities and persons;

c) Competent state authorities adjust planning, making part or all of the assets unusable according to their functions. In case of withdrawal according to Point a Clause 1 Article 28 of this Decree, this Article shall not be applicable;

d) Other cases as prescribed by the law.

2. Authority to decide on the liquidation

a) Provincial People’s Committees shall decide on the liquidation of market infrastructure assets managed by provincial authorities;

b) District-level People’s Committees shall decide on the liquidation of market infrastructure assets managed by district-level authorities.

3. The liquidation of market infrastructures shall be carried out in the forms of demolition or destruction

a) Where recovered materials and supplies may continue to be used, entities assigned to manage assets shall continue to use or use such materials and supplies for the implementation of projects on investment in the construction of new market infrastructure assets according to projects approved by competent authorities;

b) Where entities assigned to manage assets no longer wish to continue their use, they may transfer or sell the mentioned materials and supplies.

The transfer of recovered materials and supplies shall comply with Article 29 of this Decree.

The sale of recovered materials and supplies shall comply with Article 31 of Decree No. 151/2017/ND-CP dated December 26, 2017 of the Government of Vietnam and its amendment or replacement documents (if any).

4. Procedures for liquidating market infrastructure assets:

a) Agencies, units, and enterprises with assets subject to cases prescribed in Clause 1 of this Article shall formulate applications for asset liquidation and send them to specialized market infrastructure asset agencies of the same level. An application includes:

Written request for asset liquidation (specifying which cases the transferred assets fall under according to Clause 1 of this Article): 1 original copy.

List of assets requested for liquidation (names of assets and asset values): 1 original copy.

Other relevant documents (if any): 1 copy.

b) Within 45 days from the date of receipt of the adequate application prescribed in Point a of this Clause, the specialized market infrastructure asset agency shall take charge and cooperate with relevant agencies and units in submitting a report to the competent People’s Committee prescribed in Clause 2 of this Article for consideration for issuing an asset liquidation decision. The report includes:

Statement of the specialized market infrastructure asset agency or inter-sectoral agency on the asset liquidation: 1 original copy.

List of assets requested for liquidation (names of assets and asset values): 1 original copy.

Inter-sectoral meeting minutes or written feedback of relevant agencies or units: 1 copy.

Application prescribed in Point a of this Clause: 1 copy.

c) Within 30 days from the date of receipt of the adequate application as prescribed in Point b of this Clause, the competent People’s Committee prescribed in Clause 2 of this Article shall consider issuing a decision to liquidate market infrastructure assets or a written reply in case the request for asset liquidation is unconformable.

Contents of a decision on asset liquidation:

Name of the agency or unit with assets subject to liquidation;

List of assets requested for liquidation (names of assets and asset values);

Forms of the handling of recovered materials and supplies (if usable); the name of the agency, unit, or state-owned enterprise receiving the recovered materials and supplies (in case the receiving entity is determined);

Reasons for the liquidation (specifying which cases the liquidated assets fall under according to Clause 1 of this Article);

Management and use of revenues from the liquidation;

Implementation responsibilities.

d) Within 30 days from the issuance date of the decision on asset liquidation of the competent authority or person prescribed in Clause 2 of this Article, the agency or unit with assets subject to the liquidation shall implement or hire another organization or individual to implement the demolition or destruction of the assets; tally and classify recovered materials and supplies. The handling of recovered materials and supplies during the asset liquidation shall comply with Clause 3 of this Article.

The agency or unit with assigned assets shall carry out the accounting of the decrease in assets following current accounting regulations and formulate a declaration report on asset fluctuation according to Article 34 of this Decree.

5. The management and use of revenues from liquidating market infrastructure assets shall comply with Article 33 of this Decree.

Article 31. Handling of market infrastructure assets in case of loss or damage

1. Market infrastructure assets shall be handled in case of loss or damage due to natural disasters, fires, or other reasons causing such works to cease from existence or suffer damage beyond restoration according to the functions of assets.

2. Authority to decide on the handling

a) Provincial People’s Committees shall decide on the handling of market infrastructure assets managed by provincial authorities;

b) District-level People’s Committees shall decide on the handling of market infrastructure assets managed by district-level authorities.

3. Procedures for handling market infrastructure assets:

a) Agencies, units, and enterprises with assets subject to cases prescribed in Clause 1 of this Article shall formulate applications for asset handling and send them to specialized market infrastructure asset agencies of the same level. An application includes:

Written request for asset handling (specifying which cases the assets subject to handling fall under according to Clause 1 of this Article): 1 original copy.

List of assets requested for handling (names of assets, number, and asset values): 1 original copy.

Other relevant documents (if any): 1 copy.

b) Within 45 days from the date of receipt of the adequate application prescribed in Point a of this Clause, the specialized market infrastructure asset agency shall take charge and cooperate with relevant agencies and units in submitting a report to the competent People’s Committee prescribed in Clause 2 of this Article for consideration for issuing an asset handling decision. The report includes:

Statement of the specialized market infrastructure asset agency or inter-sectoral agency on the asset handling: 1 original copy.

List of assets requested for handling (names of assets, number, and asset values): 1 original copy.

Inter-sectoral meeting minutes or written feedback of relevant agencies or units: 1 copy.

Application prescribed in Point a of this Clause: 1 copy.

c) Within 30 days from the date of receipt of the adequate application as prescribed in Point b of this Clause, the competent People’s Committee prescribed in Clause 2 of this Article shall consider issuing a decision to handle market infrastructure assets or a written reply in case the request for asset handling is unconformable. Contents of a decision on asset handling:

Name of the agency or unit with lost or damaged assets;

List of lost or damaged assets (names of assets, number, and asset values); reasons for lost or damage;

Implementation responsibilities.

4. Within 30 days from the issuance date of the decision on asset handling of the agency or person prescribed in Clause 2 of this Article, the agency or unit with assigned assets shall carry out the accounting of the decrease in assets under accounting laws; and submit a report according to this Decree (following Forms No. 01B and 01C in Appendix I of this Decree).

5. The state budget shall provide funding for remedying consequences and repairing market infrastructure assets to restore operations.

Where lost or damaged market infrastructure assets are compensated by insurers or relevant organizations and individuals, the management and use of revenues from the asset compensation shall comply with Article 33 of this Decree. Amounts submitted to the state budget shall be prioritized for allocation to public investment plans and state budget expenditure estimates for investment in the construction, upgrade, renovation, and development of market infrastructure assets according to state budget laws, public investment laws, and relevant laws.

Section 6. MANAGEMENT AND USE OF REVENUES FROM UTILIZATION AND HANDLING OF MARKET INFRASTRUCTURE ASSETS

Article 32. Management and use of revenues from utilization of market infrastructure assets

1. Regarding market infrastructure assets utilized by agencies and units with assigned assets according to Article 23 of this Decree, the management and use of revenues from the utilization shall comply with financial regulations applicable to agencies and units assigned to manage assets.

2. Regarding market infrastructure assets subject to utilization schemes prescribed in Articles 24 and 25 of this Decree, the revenues from the lease and term-based transfer of rights to utilize market infrastructure assets shall be submitted to escrow accounts of State Treasuries owned by the following agencies assigned to carry out tasks of public asset management:

a) Departments of Finance regarding revenues from the utilization of assets by agencies and units managed by provincial authorities;

a) Divisions of Finance and Planning regarding revenues from the utilization of assets by agencies and units managed by district-level authorities;

3. Escrow accounts shall be monitored in detail regarding each agency with utilized assets.

4. Heads of agencies assigned to utilize market infrastructure assets shall formulate and approve estimates for costs concerning the utilization of assets, excluding the case prescribed in Clause 10 of this Article.

5. Costs related to utilizing market infrastructure assets include inventory costs, starting price determination costs, auction organization costs, and other relevant costs.

6. Expenditures:

a) Regarding expenditures with standards, norms, and regulations stipulated by competent authorities and persons, comply with such standards, norms, and regulations;

b) Regarding contents concerning hiring services relevant to the utilization of assets, comply with concluded contracts according to the law. The selection of service providers concerning asset utilization shall comply with the law;

c) Regarding expenditures not prescribed in Points a and b of this Clause, heads of agencies and units assigned to utilize assets shall decide on the expenditures, ensuring conformity with current financial management regulations of the State and take responsibility for their decisions.

7. Within 30 days from the date of submission of specific amounts to the escrow account, the lessor or transferring party shall formulate an application for payment and send it to the owner of the escrow account to pay the costs of asset utilization. The head of the lessor or transferring party shall take legal responsibility for the accuracy of the amount requested for payment.

The application for payment includes:

a) Written request for the payment of the lessor or the transferring party (specifying the revenues from asset utilization, total cost of asset utilization, and information on the payment account) enclosed with a detailed list of expenditures: 1 original copy;

b) Decision on asset utilization of the competent authority or person: 1 copy;

c) Documents proving the expenditures, such as approved estimates; contract for hiring services of valuation, auction, and demolition; invoices and receipts (if any): 1 copy.

8. Within 30 days from the date of receipt of the valid application, the owner of the escrow account shall provide funding for the lessor or the transferring party to pay costs relevant to the utilization of market infrastructure assets.

9. Every quarter, the owner of the escrow account shall submit the remaining revenues from asset utilization after the cost payment to the state budget according to state budget laws.

10. Where revenues from asset utilization by agencies or units with assigned assets according to Article 23 of this Decree are insufficient to offset the costs, the remaining shall be covered by state budget estimates assigned to the agency or unit with assigned assets.

Article 33. Management and use of revenues from handling of market infrastructure assets

1. All of the revenues from the handling of market infrastructure assets (including compensation indemnification from insurers and other organizations and individuals) shall be submitted to escrow accounts at State Treasuries owned by the following agencies assigned to carry out tasks of public asset management:

a) Departments of Finance regarding revenues from the handling of assets by agencies and units managed by provincial authorities;

a) Divisions of Finance and Planning regarding revenues from the handling of assets by agencies and units managed by district-level authorities;

2. Escrow accounts shall be monitored in detail regarding each agency, unit, and enterprise with assets subject to handling.

3. Heads of agencies and units assigned to handle market infrastructure assets shall formulate and approve estimates for costs concerning the asset handling, excluding the case prescribed in Clause 10 of this Article.

4. Costs related to market infrastructure asset handling:

a) Costs of asset inventory;

b) Costs of measuring and drawing houses and land;

c) Costs of asset pricing and valuation;

d) Costs of asset relocation, demolition, and destruction;

dd) Costs of auction services paid to auction organizations in cases of successful auctions; costs of the auction of assets paid to auction organizations in cases of unsuccessful auctions; costs of the auction in cases where auctions are organized by councils;

e) Other reasonable costs related to public asset utilization.

5. Expenditures:

a) Regarding expenditures with standards, norms, and regulations stipulated by competent authorities and persons, comply with such standards, norms, and regulations;

b) Regarding contents concerning hiring services relevant to the asset handling, comply with concluded contracts according to the law. The selection of service providers concerning asset handling shall comply with the law;

c) Regarding expenditures not prescribed in Points a and b of this Clause, heads of agencies and units assigned to handle assets shall decide on the expenditures, ensuring conformity with current financial management regulations of the State and take responsibility for their decisions.

6. Within 30 days from the date of submission of specific amounts to the escrow account, the agency or unit assigned to handle market infrastructure assets shall formulate an application for payment and send it to the owner of the escrow account to pay the costs of asset utilization. The head of the agency or unit assigned to handle market infrastructure assets shall take legal responsibility for the accuracy of the amount requested for payment.

The application for payment includes:

a) Written request for the payment of the agency or unit assigned to handle market infrastructure assets (specifying the revenues from asset handling, total cost of asset handling, and information on the payment account) enclosed with a detailed list of expenditures: 1 original copy;

b) Decision on asset handling of the competent authority or person: 1 copy;

c) Documents proving the expenditures, such as approved estimates; contract for hiring services of valuation, auction, and demolition; invoices and receipts (if any): 1 copy.

7. Within 30 days from the date of receipt of the valid application, the owner of the escrow account shall provide funding for the agency or unit assigned to handle assets to pay costs relevant to the handling of market infrastructure assets.

8. Every quarter, the owner of the escrow account shall submit the remaining revenues from asset utilization after the cost payment to the state budget according to state budget laws.

9. Where no revenue sources are generated from handling assets or the revenues from handling assets are insufficient to offset the costs, the remaining shall be covered by the state budget estimates or legal funding sources of the agency or unit assigned to handle assets.

10. Where the demolition of old works is carried out for the implementation of projects on investment in the construction of new works, and the funding for the demolition is allocated in the total investment of projects on investment in the construction of new works approved by the authority or person competent to decide on investment, the management and use of revenues from the demolition shall comply with relevant laws and not Clause 1 through Clause 9 of this Article.

Section 7. DATABASE AND REPORTS ON MARKET INFRASTRUCTURE ASSET ASSIGNMENT

Article 34. Market infrastructure asset reports

1. Declaration reports on market infrastructure assets shall be formulated, and such assets shall be updated to the database on market infrastructure assets for consistent management.

2. Forms of declaration reports on market infrastructure assets:

a) First-time declaration reports following Form No. 01A in Appendix I of this Decree when this Decree comes into force;

b) Additional declaration reports following Form No. 01B in Appendix I of this Decree where there are changes to the information on agencies or units assigned to carry out the management or information on assets.

3. Agencies and units assigned to manage market infrastructure assets shall formulate declaration reports on assets following Forms No. 01A, 01B, 01C, and 01D in Appendix I of this Decree and submit them to their superior management authorities for signatures of confirmation for inputting data to the database on market infrastructure assets.

Declaration reports shall be submitted within 30 days from the date of receipt of assets according to decisions on asset assignment of competent authorities or persons or upon changes to the information on agencies assigned to manage assets or declared assets.

4. Annually, agencies and units assigned to manage market infrastructure assets shall submit reports on the management, use, and utilization of assets (including revenues from handling and/or utilizing assets); specialized market infrastructure asset agencies shall report on revenues from the implementation of asset utilization schemes of the previous year and make irregular reports upon requests from competent state authorities. The time for finalizing reporting data is the end of the fiscal year.

5. Reports on the management, use, and utilization of market infrastructure assets include:

a) Reports on the utilization of assets by each specific method and results of the utilization of assets following Forms No. 02A, 02B, 02C, and 02D in Appendix I of this Decree.

b) Summary reports on the management, use, and utilization of assets following Form No. 03A in Appendix I of this Decree.

6. Time limits for submitting annual reports on the management, use, and utilization of market infrastructure assets:

a) Agencies and units assigned to manage assets shall formulate reports and submit them to their superior management authorities (if any) and specialized market infrastructure agencies for reports to the competent People’s Committee before February 28 every year.

b) Provincial People’s Committees shall summarize the management and use of market infrastructure assets and submit them to the Ministry of Finance of Vietnam before March 15 every year;

c) The Ministry of Finance of Vietnam shall summarize the management and use of market infrastructure assets nationwide and submit reports to the Government of Vietnam for reports to the National Assembly of Vietnam as requested and for disclosure of Vietnam's assets.

7. State-owned enterprises with assets assigned under state investment in enterprises as prescribed in Article 16 of this Decree shall formulate reports on the management and use of assets following Clauses 2, 3, 4, and 5 of this Article.

8. Reports on market infrastructure assets shall be made in the form of paper documents or electronic documents.

Article 35. Database on market infrastructure assets

1. The database on market infrastructure assets is a part of the National Database on Public Assets, developed and consistently managed nationwide; information in the database on market infrastructure assets shall have legal values similar to paper documents.

2. The development and management of the database on market infrastructure assets shall:

a) Conform with the architectural framework of the E-Government of Vietnam and meet technical standards concerning national databases and technical standards and regulations concerning information technology, information safety and security, and technical-economic norms;

b) Ensure the compatibility and capacity for integration into the National Database on Public Assets; information sharing and capacity for expanding data fields in the system design and application software.

3. Provincial People’s Committees shall direct agencies and units assigned to manage assets and specialized market infrastructure asset agencies to formulate declaration reports and update data on market infrastructure assets to the system of the database on public assets as per regulation.

Chapter V

IMPLEMENTATION

Article 36. Transitional provision

1. Markets constructed before the effective date of this Decree that cannot be renovated or upgraded to meet the criteria for classification and ranking according to Article 4 of this Decree shall be ranked by competent authorities according to their number of existing trading points with areas determined under regulations applicable when such markets were constructed and meet basic requirements for fire and explosion safety and food safety and hygiene.

2. Regarding market infrastructure assets invested in and managed by the State subject to handling decisions of competent authorities or persons according to the law before January 1, 2018, comply with signed decisions and the law applicable when such were issued.

Article 37. Entry into force

This Decree comes into force as of August 1, 2024.

This Decree replaces Decree No. 02/2003/ND-CP dated January 14, 2003 of the Government of Vietnam and Decree No. 114/2009/ND-CP dated December 23, 2009 of the Government of Vietnam.

Article 38. Implementation responsibilities

1. Ministry of Industry and Trade of Vietnam shall:

a) Take charge and cooperate with relevant ministries, central authorities, and local authorities in researching and requesting competent authorities to promulgate and amend regulations, policies, programs, and tasks concerning market development and management;

b) Direct and organize advanced training in market development and management;

c) Take charge and cooperate with relevant ministries and central authorities in inspecting compliance with the law regarding policies on market development and management under their jurisdiction.

2. Ministry of Planning and Investment of Vietnam shall:

Provide guidelines on the selection of investors for projects on investment in market construction within its scope of functions, tasks, and entitlements according to relevant laws.

3. Ministry of Finance of Vietnam shall:

a) Stipulate regulations on management, depreciation, and depreciation calculation of market infrastructure assets;

b) Provide guidelines on market infrastructure asset accounting;

c) Take charge and cooperate with provincial People’s Committees in developing the database on market infrastructure assets invested in and managed by the State nationwide and integrating it into the National Database on Public Assets;

d) Provide guidelines on implementing regulations on the management, use, and utilization of market infrastructure assets invested in and managed by the State in Chapter IV of this Decree.

4. Ministry of Construction of Vietnam shall:

Provide guidelines on implementing contents concerning standards, construction norms, and procedures for maintaining market infrastructure assets within its scope of assigned functions and tasks.

5. Ministry of Natural Resources and Environment of Vietnam shall:

Provide guidelines and directives for provincial People’s Committees regarding the inspection and supervision of the use of market land as per regulation.

6. Ministry of Public Security of Vietnam shall:

Take charge and cooperate with ministries and central authorities in implementing the state management of fire prevention, firefighting, and assurance of social safety, order, and security within markets and their surrounding areas; cooperate with relevant ministries and central authorities in developing and amending contents of planning concerning markets and regulations relevant to conditional investment business lines regarding market security and order.

7. Ministry of Culture, Sport, and Tourism of Vietnam shall:

Take charge and cooperate with ministries and central and local authorities in promoting and associating activities of tourism and advertising to markets with historical, cultural, and architectural values and landscapes and night markets; manage and preserve markets classified as relics, historical relics, or cultural relics under cultural heritage regulations.

8. Provincial People’s Committees shall:

a) Decentralize the market management in their areas to People’s Committees of districts or communes in conformity with the local situations and current regulations; direct People’s Committees at various levels to review and disclose the market classification and ranking;

b) Promulgate or request competent authorities to promulgate policies, solutions, and measures to mobilize and utilize specific resources to develop the market network;

c) Stipulate the responsibilities of People’s Committees at various levels regarding the removal of spontaneous trading points;

d) Review, research, and develop policies on the development of night markets, community markets, and markets with historical, cultural, and architectural values and landscapes in their areas as per regulation;

dd) Promulgate procedures for converting models of market management, trading, and utilization following Appendix II of this Decree;

c) Direct the reviews of market infrastructure assets invested in and managed by the State;

g) Direct the implementation, inspection, and supervision of the implementation of the law and policies on market development and management.

9. Ministers, Directors of ministerial agencies, Directors of governmental agencies, Presidents of People’s Committees of provinces, centrally affiliated cities, and relevant organizations and individuals shall implement this Decree./.

 

ON BEHALF OF THE GOVERNMENT PP. PRIME MINISTER DEPUTY PRIME MINISTER Le Minh Khai

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