Illustration. (Source: Vietnam+)

The Hanoi People’s Committee has recently issued Decision No. 3983/QD-UBND approving the Project to reorganize the Hanoi Land Development Fund to consolidate financial resources and timely meet the demand for capital for site clearance, resettlement; create land funds for land policy implementation; develop resettlement land funds and land funds according to approved plans and schemes to serve the city’s socio-economic development.

According to the Project, the Hanoi Land Development Fund (the Fund) is a non-budgetary state financial fund, non-profit, directly under the Hanoi People’s Committee, with legal personality, seal, and separate accounts; and is allowed to open accounts at the State Treasury and commercial banks with state capital. The head office of the Fund is located at 2 Phan Chu Trinh, Cua Nam Ward.

The Fund carries out 7 tasks and 5 rights, including capital advance for compensation, resettlement, and land development; capital preservation and development; capital recovery; inspection of capital usage; periodic and irregular reporting to the Hanoi People’s Committee; Fund management and operation; regulation issuance; and handling of violations in the use of capital, among others.

The organizational structure of the Fund consists of a Management Board (including a Chairman, a Vice Chairman, and members), a Supervisory Board (including a Chief Supervisor and members), and a Business Management Agency comprising a Director, a Vice Director, a Chief Accountant, and specialized divisions, which is the Management Board of the Hanoi Investment and Development Fund. The Fund operates under an entrustment model and has a charter capital of nearly VND 6,000 billion (including surplus sources and surplus advanced capital), with additional sources from the city’s budget and the Fund’s revenue-expenditure difference.

To put the Fund into operation, the Hanoi People’s Committee issued Legal Document No. 46/2025/QD-UBND on issuing the Regulations on Organization and Operation of the Hanoi Land Development Fund.

According to the Decision, the Hanoi Land Development Fund is a non-budgetary financial fund directly under the Hanoi People’s Committee and operates independently. The Fund has legal personality, seal, and accounts at the State Treasury and commercial banks.

The Fund’s functions include receiving and advancing capital according to regulations, operating on the principle of capital preservation and development, without profit-seeking objectives, ensuring transparency and efficiency. The Director of the Fund is the legal representative and is responsible to the Hanoi People’s Committee, the Management Board, and the law.

The Fund’s activities include capital sources; capital management; capital usage purposes; capital advance plans and conditions; capital advance procedures and processes; management costs of advanced capital; regulations on repayment of advanced capital; sanctions for violations; financial regime, asset management, accounting, and auditing, which are carried out in accordance with Government Decree No. 104/2024/ND-CP dated July 31, 2024.

In the course of implementation, the Fund is responsible for summarizing its activities and proposing to the Hanoi People’s Committee to decide on amendments and supplements to these Regulations. The Fund is also responsible for periodically summarizing its activities, with the Management Board submitting proposals for amendments through the Department of Home Affairs for appraisal before issuance.

Nam Giang

– 12:41 31/07/2025

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