VietNamNet Bridge – The report on the management and use of state assets, presented by Minister of Finance Vuong Dinh Hue at the 3rd National Assembly session, shows that the investment in nearly 32,000 public cars, worth VND15 trillion ($750 million), accounting for barely 1.9 percent, but it is the biggest waste.



According to the report, the total state assets by December 31, 2011, was estimated at VND791 trillion ($39.55 billion), including over VND597 trillion worth of land use right, over VND150 trillion worth of housing value, over VND15 trillion of cars and VND28 trillion of other assets, which are worth at least VND500 million/each.

Land is the most important state assets. State agencies now use more than 1.5 million square meters of land. Land makes up more than 75 percent of the total state assets.

Houses are the second valuable assets of the state that were built by state funding. State agencies are using more than 110 million square meters of houses, accounting for nearly 19 percent of the total value of state assets.

There are nearly 32,000 public cars, worth VND15 trillion, account for 1.9 percent of the total assets.

After three years implementing public procurement through bidding, the result is good. Most of assets purchased in this form were vehicles, office equipment (mainly computers), equipment for teaching and studying.

State assets are still misused, particularly cars.

Re-arrangement of state land and housing is carried out slowly. This task has just been implemented in Hanoi and HCM City.

Nam Nguyen