Investment of $616m approved for public projects in capital city

March 11,soi keo sydney 2023 - 07:51 Your browser does not support the audio element. The resolution also saw a decrease in the resettlement fund by VNĐ4.2 trillion ($177 million), which was reallocated towards several of the city's projects.

The capital city's People's Council convenes on Friday. —VNA/VNS Photo Văn Điệp

HÀ NỘI — At a meeting of the People's Council in the capital city on Friday, a resolution was passed approving a sizeable investment of VNĐ14.6 trillion (US$616 million) for 21 public projects.

The resolution also saw a decrease in the resettlement fund by VNĐ4.2 trillion ($177 million), which was reallocated towards several of the city's projects.

The council also passed several resolutions on public asset management in the 2022-25 period and public investment for 2023, as well as adjustments to several projects using public funding, agricultural land recovery and use purpose conversion. The residence registration fee is also removed.

Specific resolutions have been set out for the management of public assets. For land and buildings, the capital city’s People's Committee has ordered a review of public buildings to address shortcomings in managing the State-owned housing fund.

Violating buildings and areas will be recovered according to regulations. Complicated cases are expected to be transferred to investigation agencies.

The city is also looking into issuing a comprehensive system of standards for land areas of specific uses, as well as a project using public buildings and land for commercial purposes.

The municipal People’s Committee has requested a master plan to utilise land resources to fund the city’s socio-economic development in the future.

The unused land and the areas nearby transport projects will also be studied to generate capital, which will be re-invested in the transport infrastructure system.

The city is also promoting administrative reforms in the implementation process, from planning, investment, and land clearance to defining financial obligations.

Hà Nội will prioritise the capital for land clearance and recovery while also forming a land fund for the auction of land use rights.

Housing and land facilities that cause pollution or do not fit the master plan will be relocated.

The area left after relocation will be used to develop public spaces and infrastructure rather than high-rise apartment buildings, according to the Law on the Capital City.

Projects that use the land but are making slow progress will be handled, and intentional violations will result in land recovery according to the laws.

The recovery and termination of slow and violated projects will also be made public, which is expected to increase supervision and consensus from people and businesses during implementation.

Regarding infrastructure, the People’s Committee urged the review and evaluation of infrastructure under State management and privatisation and utilisation of capital according to the laws while maintaining transparency.

For vehicles and other assets, the committee requires a system of standards to be issued. — VNS