Asset recovery in the fight against corruption in Vietnam: problems and perspective

Abstract

The paper analyses legal provisions and results of asset recovery in Vietnam in the recent years. By using official Government figures and comparing them with requirements under United Nations Convention against Corruption (UNCAC), this paper demonstrates the shortcomings of the legal processes and procedures for recovery of stolen assets in Vietnam. The problems faced by Vietnam in this area mainly resulted from the fact that although the country has numerous substantive and procedural laws on anti-corruption, an appropriate strategy for anti-corruption has been wrongly identified by Vietnamese law makers and practitioners. Accordingly, not much thought has been given to asset recovery, which has been globally recognized as the most effective way to deter corruption. Besides, law enforcement in Vietnam is also another big concern. Therefore, there is no significant progress in asset recovery in Vietnam in the short-term, though the country is revising the law against corruption in a comprehensive manner.