Shopping for public assets exceeding standards will be fined up to 20 million VND

Legal Consulting Office of Lao Dong Newspaper answers:

Clause 3, Article 1 of Decree 55/2026/ND-CP amending and supplementing a number of articles of Decree No. 63/2019/ND-CP stipulating penalties for administrative violations in the field of public asset management; practicing thrift, combating wastefulness; national reserves; state treasury has been amended and supplemented by Decree No. 102/2021/ND-CP (effective February 9, 2026) as follows:

Article 6. Sanctions for violations of regulations on procurement of public assets

1. Fines shall be imposed on organizations that purchase assets exceeding the standards and norms prescribed by agencies and competent persons according to the following penalties:

a) From 2 million VND to 5 million VND in case of purchasing assets worth more than 50 million VND;

b) From 5 million VND to 10 million VND in case of purchasing assets worth more than 50 million VND to less than 75 million VND;

c) From 10 million VND to 20 million VND in case of purchasing assets with a value exceeding 75 million VND or more.

2. Remedial measures:

Forced to return the amount corresponding to the asset value. The amount corresponding to the asset value for the act specified in Clause 1 of this Article is the purchase exceeding the standards and norms of the asset.

2. Remedial measures: Forced return of assets.

Thus, from February 9, 2026, the purchase of public assets exceeding standards will be fined up to 20 million VND according to the above regulations.