THE PRIME MINISTER OF GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 21/2003/CT-TTg
Hanoi, October 02, 2003
 DIRECTIVE
ON ENHANCING THE WORK OF SECURITY TRANSACTION REGISTRATION
After the Government's Decree No. 08/2000/ND-CP of March 10, 2000 on security transaction registration was issued, the activities of security transaction registration have initially got into a groove and achieved some important results. The registration of security transactions with a view to publicizing them has created favorable conditions for individuals and organizations to inquire into information on properties, and at the same time, formed a legal basis for the accurate determination of payment priority order when handling pledged, mortgaged or guaranteed properties. As a result, registration activities have contributed to enhancing the transparency of civil and economic transactions, making the investment environment healthy, synchronously formulating elements of a market economy and protecting the legitimate rights and interests of parties involved in the transactions as well as concerned individuals and organizations.
However, over the past period, the security transaction registration has not yet been implemented unevenly in localities, especially in the fields of registration of pledge and guarantee with land-use rights and properties affixed to land. The professional guidance and fostering on security transaction registration operations for registrars has not yet been provided in time. The registered security transactions constitute an important information source for involved parties to consider and decide on the investment and determine civil and economic transactions, especially in credit and banking activities as well as the State management over related types of properties of some agencies, but have not yet been thoroughly exploited and made full use of. Therefore, the activities of security transaction registration still fail to fully promote their practical significance and role.