Law on Assets Registration: Effective tool against corruption

The law is expected to address shortcomings in current assets declaration that shows lots of loopholes.

A Law on Assets Registration is believed to be an effective means in fighting against corruption, report learned at the 52nd session of the National Assembly’s Standing Committee that took place on January 11-12.

Law on Assets Registration, corruption, National Assembly, supreme people’s procuracy  Prosecutor General of the Supreme People’s Procuracy Le Minh Tri. Source: Quochoi

Prosecutor General of the Supreme People’s Procuracy Le Minh Tri said the law will allow monitor asset declaration in both political system and in the society, closing loopholes in the assets declaration among civil servants.

The law will regulate the origin of the assets, enabling authorities to supervise flows of assets and the legality of property, Mr. Tri said at the session, adding that the regulations will largely help uncover assets obtained by corruption.

Mr. Tri highlighted the need to release the law in the context that lots of assets are not subject to supervision and investigation despite unclear origin. He said that many young people at 20s and 30s own property worth billions of dongs but authorities cannot verify the sources.

Regarding the public prosecutor office mission over the last term (2016-2020), Mr. Tri said the number of cases put into prosecution and investigation rose 34.3% from the previous term. Notably, the assets recovered in corruption cases reached nearly VND80 trillion (US$3.48 billion).

At the meeting, Chief Justice of the Supreme People’s Court Nguyen Hoa Binh said courts handled more than 7,500 corruption cases with 14,500 culprits.

At an anti-corruption meeting on December 12, 2020, General Secretary of the Communist Party of Vietnam and State President Nguyen Phu Trong said corruption occurs within the apparatus and among capable officials. Fighting against corruption is a battle in which insiders must be supervised by regulations.

In the 2019 Corruption Perceptions Index (CPI) released in January 2020 by Transparency International, Vietnam scored 37 out of 100 points, up four points on-year, ranking the 96th among 180 countries and territories. In ASEAN, only Vietnam and Malaysia made significant improvement in CPI.

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