Inventory of public assets aims to accurately reflect the true nature of state budget resources


Transport infrastructure assets will be inventoried in the total inventory of public assets. Illustration photo: ST
Transport infrastructure assets will be inventoried in the total inventory of public assets. Illustration photo: ST

According to Mr. Nguyen Tan Thinh, Director of the Department of Public Asset Management, the most recent total inventory of the country’s assets was from January 1, 1998. However, the 1998 general inventory only conducted TSC inventory in the administrative and public service areas. During this general inventory, a total inventory of assets will be conducted nationwide for 2 types of assets, including: assets at administrative and public service units; Infrastructure assets are invested and managed by the State.

Data on TSC is not complete and consistent

According to the Department of Public Asset Management (Ministry of Finance), recently, many opinions have said that the data related to TSC do not accurately reflect the true state budget resources spent. Accordingly, the annual budget spent on construction and procurement of TSCs is large but the number of TSC is much lower. At the same time, according to the provisions of law on management and use of assets, agencies, organizations and units must fully report, account for the quantity, items and value of assets, although, this work has not been given due attention, and data on TSC are not complete and consistent.

Information about some inadequacies in asset inventory in recent times, Ms. Tran Dieu An, Deputy Director of the Department of Public Asset Management, said that in fact, it is quite common that agencies, organizations and units do not determine or do not determine the correct value of land use rights of workplaces and public service facilities to monitor on accounting books and report to TSC Management Software in accordance with the provisions of Decree No. 151 /2017/ND-CP. Accordingly, the value of land use rights is determined by the allocated land area multiplied by the land price in the land price list multiplied by the land price adjustment coefficient issued by the Provincial People’s Committee; At the same time, adjusting land prices in some cases such as the first year of the period when the Provincial People’s Committee issued and announced the land price list when the land area changed, etc. Besides, there are cases of acceptance and using the office and business operations for many years but not keeping track of the accounting books, etc.

To solve this problem, Resolution No. 39-NQ/TW of the Politburo directed the Party Committee, the Government, ministries and local branches to conduct a full inventory and assessment of the resources of the economy according to the correct viewpoint: a complete and substantive inventory and assessment of the economy’s resources is an important basis for building a socio-economic development strategy to 2030, with a vision to 2045 and mid-term and long-term development plans for each period. Simultaneously, Resolution No. 74/2022/QH15 dated November 15, 2022 of the National Assembly assigned the Government and Prime Minister to direct ministries, branches and localities to carry out tasks in 2025 to complete the inventory.

According to Decision No. 213/QD-TTg of the Prime Minister on the Project for general inventory of assets at agencies, organizations, units and infrastructure assets invested and managed by the State, on the general plan inventory, for ministries, branches, and local People’s Committees, ministers and leaders of the Provincial People’s Committee must establish an inventory steering committee, complete before April 30, 2024; Develop and promulgate inventory plans based on the content and detailed plans issued by the Ministry of Finance; Organize training and inventory guidance for subjects conducting inventory; Summarize the results of asset inventory and send it to the Ministry of Finance before June 15, 2025. For subjects conducting inventory: establish an inventory team and conduct an inventory of assets directly/temporarily managed by them; Responsible for inventory data; Report inventory results to superior management agencies before April 15, 2025.

Inventory for 18 types of infrastructure assets

According to the Department of Public Asset Management, the scope of infrastructure assets invested and managed by the State is wide, however, due to time limitations in conducting a general inventory (according to Resolution No. 74/2022/QH15, it must be completed before 2025), therefore, the Ministry of Finance has submitted to the Prime Minister for permission to only carry out inventory for 18 types of infrastructure assets that have been relatively clearly identified such as: Transportation infrastructure assets: railway, road, aviation, inland waterway, maritime; clean water supply infrastructure assets; irrigation infrastructure assets; commercial infrastructure assets that are markets; infrastructure assets of industrial clusters and industrial parks; economic zone infrastructure assets; high-tech zone infrastructure assets, etc. Based on the inventory results for these types of infrastructure assets and practical experience in conducting the inventory, ministries, branches and localities are responsible for organizing inventory of remaining assets.

Sharing information about the TSC inventory work in Hanoi, Mr. Mai Cong Quyen, Deputy Director of the Hanoi Department of Finance, said that in fact, in recent times, departments and agencies in the City have followed Project “Effective management, use and exploitation of assets of Hanoi city in the period 2023-2025, orientation for the period 2026-2030”. This is also an advantage for Hanoi when implementing inventory work. However, with practical implementation experience, the Deputy Director of the Hanoi Department of Finance pointed out certain problems, especially in inventorying 18 types of infrastructure assets because there are several asset groups that have not been regulated by a specific document. According to the guidance of the Ministry of Finance, Hanoi City will both do and make adjustments to ensure correct and complete inventory and to have “clean” and “live” data to carry out the general inventory of assets of Hanoi capital in particular and the country in general.


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