CaliToday (12/9/2025): In a move to enhance transparency and combat corruption, Vietnamese authorities are proposing significant amendments to the country's anti-corruption legislation, with a key focus on the declaration of high-value assets by public officials. Under the new proposal, officials in possession of gemstones or other valuable assets worth 150 million Vietnamese Dong (approximately $6,000 USD) or more would be required to declare them.
The proposal, put forward by the Government Inspectorate, suggests a substantial increase from the current threshold of 50 million VND. This adjustment is aimed at ensuring the regulations remain relevant and effective in the context of Vietnam's growing economy and rising asset values. The proposed changes are part of a broader effort to amend the Law on Anti-Corruption, reflecting the government's ongoing commitment to tackling graft and promoting accountability among its officials.
The draft law specifically includes precious metals, gemstones, cash, and other valuable papers and assets that meet the proposed value threshold. This explicit inclusion of luxury items like gemstones underscores a concerted effort to prevent the concealment of wealth through non-traditional assets.
The rationale behind the proposed increase is to align the declaration requirements with the current socio-economic situation. Proponents of the amendment argue that the 50 million VND limit, established in previous legislation, is no longer a suitable benchmark for identifying significant assets that could potentially be linked to illicit enrichment.
In addition to the revised threshold for initial declarations, the draft law also stipulates that officials will need to file supplementary declarations if their assets fluctuate by a significant amount within a year. The proposal suggests a trigger for such declarations when there is an increase in assets or income of 300 million to 400 million VND or more.
This initiative is the latest in a series of measures undertaken by Vietnam to strengthen its anti-corruption framework. The country's first Law on Anti-Corruption, enacted in 2005, introduced the requirement for asset and income declaration for public officials. Over the years, this law has been amended to enhance its effectiveness.
The proposed amendments are expected to be a key topic of discussion among lawmakers and the public in the coming months. If enacted, these stricter regulations will place a greater onus on public officials to be transparent about their wealth and assets, marking a significant step forward in Vietnam's fight against corruption. The move is also seen as a way to bolster public trust in government institutions and ensure that those in positions of power are held to a high standard of integrity.
