The Standing Committee of the National Assembly's Economic and Finance Committee has preliminarily appraised the draft Law on Asset Auction (amended).
Deputy Minister of Justice Mai Luong Khoi said that the draft amended Law has completed the regulations on auctioneers, auctioneering organizations; completed the rights, obligations and responsibilities of subjects.
At the same time, complete the auction procedures; supplement shortened auction procedures for some assets of small value or needing quick handling such as reserves, bad debts, and difficult-to-sell judgment enforcement assets, in order to save time, costs, and improve the efficiency of asset handling.
The draft amended Law also promotes online auctions and digital transformation in auction activities.
Notably, the draft amended and supplemented Law has a separate chapter regulating the order and procedures for online auctions of voluntary assets of individuals and organizations, in which individuals and organizations with voluntary assets can agree on appropriate and flexible auction orders and procedures, and choose appropriate auction forms and methods to sell assets.
This regulation creates a synchronous, unified, and complete legal basis for the auction of voluntary assets, in accordance with international practices in the auction profession.
The draft amended Law also supplements regulations prohibiting participation in auctions of residential land use rights for individuals who win auctions but "abandon deposits" based on legalizing the provisions of Resolution No. 66. 11/2026/NQ-CP.
This contributes to overcoming the situation of participating in auctions for the purpose of profiteering, causing adverse effects on the real estate market.
Member of the Party Central Committee, Chairman of the Economic and Finance Committee Phan Van Mai said that the amendment of the Law on Asset Auction must ensure a streamlined and effective asset auction order; prevent and combat negativity in asset auctions.
At the same time, it is necessary to thoroughly review to ensure synchronization, unity, and absolutely not to allow overlap between the draft Law on Asset Auction (amended) and related laws...
