Legislators approve special mechanisms for Capital’s major projects
VGP - The National Assembly on December 11 approved special mechanisms and policies designed to accelerate the implementation of major and strategic projects in Ha Noi.
The newly approved resolution provides special mechanisms and policies designed to accelerate the implementation of major and strategic projects in Ha Noi.
These mechanisms and policies shall take effect for five years, starting December 12, 2025.
The Ha Noi municipal People's Committee is empowered to decide on urban redevelopment, renovation, and reconstruction projects. This includes demolishing old residential buildings, upgrading urban blocks, and approving detailed plans for project zones.
The municipal People's Council will oversee the approval of project lists and determine compensation, support, and resettlement policies, aiming to balance the interests of residents, the state, and investors. Compensation for land acquisition may be set at up to twice the standard rate, depending on the nature of each project. The council is also tasked with ensuring that land recovery and project implementation avoid financial losses, corruption, and social instability.
Investors shal be allowed to receive temporary land allocation to begin construction once at least 75 percent of affected households agree to planning, compensation, and resettlement arrangements. Projects can commence even before formal investment approval, with compensation and resettlement costs covered by the city budget and other lawful funding sources.
The Chairman of the People's Committee has the authority to approve or adjust the city's master plan and general planning to support these projects, following consultation with relevant ministries and approval by the People's Council.
Ha Noi may also apply future national laws or resolutions that offer more favorable incentives. These special mechanisms are expected to be incorporated into future amendments to the the Law on the Capital City 2024.
Finance Minister Nguyen Van Thang said the new mechanisms are intended to speed up large-scale project implementation in line with directives from the Party Central Committee and the Ha Noi Party Committee, while ensuring legal compliance and securing public support.
The same day, the National Assembly also adopted special mechanisms for major cities of Da Nang and Ho Chi Minh City./.
