A series of specific policies are expected to help Hanoi achieve a breakthrough.

The National Assembly has passed a Resolution on piloting a number of specific mechanisms and policies for implementing large and important projects in the capital city.

The resolution is expected to be a "catalyst" to help Hanoi address many bottlenecks, bringing the capital closer to its goal of becoming a modern, innovative, and livable city.

1. The Hanoi City People's Council is authorized to decide on investment policies for public investment projects and PPP projects that meet the criteria of nationally important projects; and for public investment projects and PPP projects using local budget funds with a total investment scale of VND 30,000 billion or more.

The Hanoi People's Council is authorized to decide on the investment policy for investment projects included in the list of projects attracting strategic investors as stipulated by the law on the capital city, with an investment capital scale of 30,000 billion VND or more.

Loạt chính sách đặc thù kỳ vọng giúp Hà Nội bứt phá - 1 — A view of Hanoi from above (Photo: Contributor).

2. Hanoi will only develop one master plan for the capital city, based on the concretization of the contents of national and regional plans, and integrating and incorporating the contents of the capital city plan and the general capital city plan.

The Chairman of the Hanoi People's Committee approves and adjusts the overall master plan of the capital city after consulting with relevant ministries and agencies and obtaining approval from the City People's Council.

3. The Hanoi City People's Council has the authority to decide on each specific case of land acquisition for the implementation of socio -economic development projects for the national and public interest.

4. The Hanoi City People's Council is authorized to decide on the criteria and levels of compensation, support, and resettlement when the State reclaims land for the implementation of large and important projects, at twice the prescribed rate.

5. Hanoi is allowed to use its city-level budget surplus to prioritize the allocation of funds for large public investment projects before repaying the principal and interest on loans from the State budget.

6. New investment projects and renovation projects aimed at addressing bottlenecks and urgent issues such as traffic congestion, flooding, environmental pollution, and urban order, using Hanoi City's budget and other legitimate sources of capital, shall be implemented in accordance with regulations on emergency public investment and emergency construction orders.

7. The Hanoi People's Committee is authorized to decide on coercive measures in cases where the investor has obtained the consent of over 75% of homeowners and land users, equivalent to at least 75% of the area designated for urban renovation, upgrading, and reconstruction, regarding the planning, compensation, support, and resettlement plan.

8. After receiving guidance from competent authorities allowing the implementation of large-scale projects, Hanoi may use city-level budgets and other legal sources of capital to independently carry out compensation, support, and resettlement projects before approving the investment policy...

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