In addition to implementing solutions to increase revenue, Secretary of Hanoi’s Party Committee Vuong Dinh Hue requested the city to tightly control investment, cut unnecessary expenses, especially business trips abroad, to save resources for wage reforms and development investment spending.

Secretary of Hanoi’s Party Committee Vuong Dinh Hue addresses the meeting on November 14.

At a meeting with Mr. Hue on November 14, the citys officials reported the progress of the development investment plan in 2020; its public investment plan for 2021 and the medium-term public investment plan for 2021-2025. They also discussed specific projects expected to be on the list of medium-term public investment plans proposed by departments and branches; the implementation of Resolution No. 115/2020 on piloting a number of specific financial - budget mechanisms and policies for Hanoi.

According to reports, Hanoi needs more than VND480 trillion (US$20.7 billion) for medium-term public investment in the 2021-2025 period. During this period, the city will allocate VND18 trillion (US$775 million) from the reshuffle, privatization, and divestment of state-owned enterprises. 

It is expected to allocate VND8 trillion (US$344.5 million) from the budget line of salary reform to investment and development.

Chairman of the Hanoi People's Committee Chu Ngoc Anh asked departments, agencies to continue to review the plans in order of priority to complete the list of projects; enhance the efficiency of state management and create consensus in the implementation process.

Hanoi People's Committee Chairman Chu Ngoc Anh

Concluding the meeting, Mr. Hue asked the city People's Committee, departments, and sectors to proactively review and evaluate the performance of the five-year public investment tasks in the 2016-2020 period, and then define goals and tasks for 2021 and the period 2021-2025.

The municipal Party chief asked the leaders of the municipal Party Committee to set the major financial, budget and medium-term public investment directions. On that basis, the city will develop detailed plans to submit to the Hanoi People's Council. The plans must be closely linked together, ensuring the timeliness and full implementation of projects according to the order of priority and ask of strengthening and developing the social security of the city.

Regarding the implementation of Resolution No. 115, Mr. Hue said that there should be an agency with a focal role in the implementation process, and that it is necessary to mobilize the participation of branches, especially research institutes and experts in the implementation.

Regarding the support in new-style rural construction, the City People's Committee must have a regulating role and the support must be targeted to avoid the lack of focus in investment, leading to waste.

In the next period, the lack of village-level cultural centers must be completely resolved. By 2021, 50% of the market places in the locality must be renovated.