According to the Ministry of Justice's report summarizing the implementation of the Law on Auctioning Assets of 2016 (amended and supplemented in 2024), most assets auctioned in Vietnam are public assets, with land use rights auctions accounting for over 90%. This is also one of the reasons leading to shortcomings and limitations in the implementation of this law.
Ministry of Justice Furthermore, it was noted that before the implementation of the Law on Auctioning Assets, there were only over 100 asset auction businesses nationwide; this number has now risen to nearly 500.
Some asset auction businesses have made substantial investments in infrastructure, the number of auctioneers, professional staff, and established branches to expand their operations nationwide. Across the country, there are 16 approved asset auction organizations that meet the requirements to conduct online auctions.
According to statistics, from July 2017 to December 31, 2025, asset auction organizations conducted 336,581 auctions, collecting over 4,000 billion VND in auction service fees and contributing over 1,700 billion VND to the State budget.
According to the Ministry of Justice, asset auction activities have undergone significant positive changes. A wide variety of auction methods have been applied (in addition to the traditional verbal auction, indirect voting, direct voting at the auction, and online auctions have been added) based on the agreement and choice of asset owners and auction organizations, contributing to attracting a large number of participants and limiting negative practices.
The number of auctions is increasing, the success rate is high, and the winning bids are higher, sometimes even many times higher than the starting price. Auctions of public assets and land use rights have generated revenue for the government. The state budget makes a positive contribution to the socio -economic development of the locality.
Besides the achievements, the Ministry of Justice also pointed out shortcomings and limitations related to institutions and policies; asset auction organization; auctioneer staff; and the role of asset owners. auction…
The Ministry of Justice argues that one of the reasons for the aforementioned limitations and shortcomings is that most of the assets auctioned in Vietnam are public assets, with land use rights auctions accounting for over 90%, but there is no central authority to handle them, unlike the models in some developed countries. Therefore, this easily leads to the risk of profiteering, while assets owned by individuals and organizations offered for sale through auction account for a very low percentage (0.06%) compared to the number of mandatory asset auctions.
Another reason is the limited application of information technology and online auctions in asset auctions, which heavily relies on the subjective will of the auction participants. Collusion, price manipulation, dummy bidders, and coercion are becoming increasingly sophisticated and complex, making it difficult to detect and address through conventional inspections and audits without the involvement of the police using specialized investigative methods (signature analysis, audio recording, investigation).
Furthermore, some auctioneers have not been proactive in self-improving and updating their legal knowledge to enhance their professional skills and expertise, as well as cultivating their political qualities, ethics, and professional conduct. Their understanding of the profession is still incorrect; they lack awareness in building and protecting the reputation and image of the profession, and some auctioneers even abet violations. violating the law, facing criminal prosecution, and damaging the reputation and quality of the auction profession.
Source: https://baolangson.vn/hon-90-la-dau-gia-quyen-su-dung-dat-5087378.html
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