Bespoke policies to fast-track key developments in Hanoi

On December 4, the National Assembly (NA) Standing Committee discussed a draft resolution on policies for implementing major projects in Hanoi.

Minister of Finance Nguyen Van Thang presented the key contents of the draft resolution at the meeting.

Regarding the authority to approve investment guidelines, the government proposes that Hanoi People’s Council and chairman of Hanoi People’s Committee be empowered to decide on or approve such guidelines for public projects, public-private partnership (PPP) ventures, and private-sector schemes without limitations on capital scale, land use, or resettlement requirements that would otherwise fall under the authority of the NA, the government, or the prime minister.

When approving guidelines or specific projects that require special mechanisms differing from existing laws, NA resolutions, ordinances, or resolutions, Hanoi People’s Committee shall, after receiving approval from the competent authorities, report to the government for submission to the NA Standing Committee to permit such mechanisms. The Standing Committee shall then report to the NA at its nearest session.

The government proposes allowing the application of investor and contractor selection procedures for projects that must be implemented immediately under directives from competent authorities, undertakings of national importance, and projects intended to engage strategic investors.

For ventures requiring immediate implementation under directives from competent authorities, investors may be selected before the competent authority decides or approves the guidelines.

Planning procedures and ground-breaking construction activities may be carried out simultaneously, along with procedures for approving guidelines.

According to the draft resolution, the city will prepare a single master planning for the capital, concretising national and regional planning and integrating the contents of the Hanoi’s planning and Hanoi amended general planning.

Once detailed planning is approved and Hanoi People’s Council authorises project implementation, Hanoi People’s Committee may use the city’s budget to carry out compensation, support, and resettlement activities before approving investment guidelines as directed by competent authorities.

For projects requiring immediate implementation as directed by competent authorities, the municipal People’s Council may determine compensation, support, and resettlement rates up to twice the normal regulatory levels; for other cases, it may set rates higher than the regulations but not exceeding twice the standard level.

To mobilise capital for implementation, Hanoi People’s Committee is allowed to use the city-level budget surplus to allocate funding to the projects under the resolution.

For undertakings requiring immediate implementation under directives from competent authorities, where the capacity of credit institutions or foreign bank branches to syndicate loans cannot meet client demand, these institutions may report to the Governor of the State Bank of Vietnam, who will decide on the maximum total credit exposure for a customer or a customer group in cases where credit exposure exceeds the statutory limit under credit regulations.

New investment projects or renovation works addressing urgent issues such as traffic congestion, flooding, environmental pollution, and urban order may apply emergency public funding mechanisms and emergency construction orders as prescribed by laws on public investment and construction.

Additionally, Hanoi People’s Committee may decide measures for renovating, upgrading, and redeveloping urban areas, including demolition of apartment blocks or residential buildings where one or more structures have been assessed at dangerous levels.

For instance, the authority may enforce compulsory demolition when more than 75 per cent of homeowners or land users –representing at least 75 per cent of the total land area in the relevant zone – express consent.

During the discussion session, comments focused on reviewing the scope of application, ensuring consistency within the legal system, and assessing potential risks related to citizens’ rights, public order, and national finances.

On behalf of the government and the drafting agency, Minister Thang stated that the drafting team would thoroughly study and incorporate the instructions of the NA top leaders as well as the opinions of NA Standing Committee members.

VinSpeed plans to open Hanoi-Quang Ninh high-speed railway in 2028 VinSpeed ​​plans to begin construction of the Hanoi-Quang Ninh high-speed railway by the end of this year and start commercial operations in the first quarter of 2028.

Hanoi workshop targets market access for women-owned firms A workshop aimed at boosting the competitiveness of female-led businesses was held in Hanoi through a collaboration between the Vietnam Women Entrepreneurs Council and UN Women.

Hanoi and Mekong Delta set for major boost as new infrastructure projects break ground Vietnam is preparing to break ground on a series of major transport projects on December 19, aiming to boost regional connectivity, energise economic growth, and set the stage for a new development era.