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Illustrative Image. (Source: Vietnam+)
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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, and land fund development.
According to the Project, the Hanoi Land Development Fund (the “Fund”) is a non-budgetary state financial fund, non-profit, and directly under the Hanoi People’s Committee. It has its own legal personality, seal, and accounts, and can open accounts at the State Treasury and commercial banks with state capital. The Fund’s head office is located at 2 Phan Chu Trinh, Cua Nam Ward.
The Fund carries out seven tasks and five rights, including capital lending for compensation, resettlement, and land fund development; capital preservation and development; capital recovery; inspection of capital usage; and periodic and ad-hoc reporting to the Hanoi People’s Committee. It also manages and operates the Fund, issues regulations, and handles violations in the use of capital, among other things.
The organizational structure of the Fund consists of a Management Board (including a Chairman, Vice-Chairmen, and members), a Supervisory Board (including a Chief Supervisor and members), and a Business Management Agency, 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 lending capital, supplemented by the city’s budget and the Fund’s revenue-expenditure difference.
To operationalize the Fund, 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 its legal personality, seal, and accounts at the State Treasury and commercial banks. It functions to receive and lend 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 management, capital management, capital usage purposes, capital lending plans and conditions, capital lending procedures, management costs of lent capital, regulations on repayment of lent capital, and sanctions for violations. In addition, the financial regime, asset management, accounting, and auditing of the Land Development Fund are governed by the Government’s Decree No. 104/2024/ND-CP dated July 31, 2024.
During the implementation process, the Land Development Fund is responsible for summarizing its activities and proposing to the Hanoi People’s Committee to amend and supplement these Regulations. The Fund is also responsible for periodically summarizing its activities, with the Management Board proposing amendments through the Department of Home Affairs for appraisal before issuance.
Nam Giang
– 12:41 31/07/2025
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“The proposal to streamline the Land Development Fund aims to consolidate financial resources efficiently. By doing so, it can promptly meet the demands for capital to facilitate land clearance and resettlement, as well as create a land bank for allocating land to implement land policies. This initiative ensures that the necessary funds are readily available to address these critical aspects of land development, ultimately serving the interests of the people and the nation.”
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