Delegates voting to pass the Resolution. Photo: Quang Thái
A notable highlight of the resolution is the stipulation of funding sources for investment and support, including: public investment capital as per the law on public investment; loans from the City Development Investment Fund.
Additionally, the city’s budget is entrusted through the City Development Investment Fund to provide support, comprising: funds from the city’s budget, allocating approximately 1% to 3% annually from the city’s development investment budget; funds from the revenue equivalent to the value of residential land funds (20% and 25% residential land funds) designated for constructing social housing in commercial housing and urban area projects, as per housing laws and Hanoi’s regulations, which developers have paid into the city’s budget.
The city also utilizes funds from the revenue generated through auctions of land use rights for the 20% residential land funds in commercial housing and urban area projects, which developers must transfer to the city as required; along with other lawful funding sources.
The resolution also clearly outlines the scope of infrastructure projects for which the city will use its budget to invest in construction. Specifically, except in cases where investors directly construct infrastructure concurrently with housing within their projects, the city will use its budget to invest in building certain key technical infrastructure and essential social infrastructure within independent social housing projects to reduce social housing prices. These include: parking facilities integrated with public and private electric vehicle charging stations for residents; kindergartens, primary schools, and middle schools; health stations, and cultural centers.
The city will decide to use its budget for constructing the aforementioned infrastructure projects when the following conditions are fully met: Independent social housing projects are those built on independently planned land plots located outside the Ring Road 4, as per the approved Capital Master Plan. These projects must have a scale equivalent to at least one residential unit or a population of 4,000 or more.
The infrastructure projects will be implemented under separate plans using the city’s budget and clearly stated in the investment decision document for the independent social housing project. In each socio-economic development period, the city will adjust the scope of infrastructure projects funded by the budget to align with practical needs.
* On the same day, the Hanoi People’s Council also adopted a Resolution detailing the planning, appraisal, approval, and adjustment of TOD area planning for national and local railways, as well as route plans, project locations, and general layouts for local railway lines. Additionally, a Resolution was passed setting the rates for emergency ambulance services and the co-payment ratio for patients using these services.
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