Welcome back to the Words on the Street column of The Hanoi Times. In today’s article, we’ll explore Hanoi’s decision to form a committee specializing in public asset management. Let’s dive in.

In a daring and unprecedented move, Hanoi has set up the Steering Committee for Anti-Waste Measures, making it the first locality in Vietnam to institutionalize efforts to combat the misuse of public resources and delays in project execution.

This initiative is a manifestation of the city's determination to tackle long-standing inefficiencies, foster transparency, and lay the groundwork for sustainable urban development. Beyond tackling the waste of resources, the effort underscores Hanoi’s ambition to redefine governance in a modern metropolis.

Hanoi, like other major cities, is struggling with the twin challenges of managing burgeoning urban demands and fixing structural inefficiencies. Among the most glaring issues are the prevalence of delayed projects and the under-utilization of valuable public assets. Such inefficiencies hinder economic growth, compromise urban aesthetics, and erode public trust.

Cao-Xa-La complex on Nguyen Trai Road serves as an example. Once a thriving industrial hub housing three major factories, Cao Su Sao Vang (Gold-Star Rubber), Xa Phong Ha Noi (Hanoi Soap), and Thuoc La Thang Long (Thang Long Tobacco), the site was earmarked for transformation into a modern urban area. However, years of inaction have left it as a dormant space, symbolic of wasted economic and social potential.

In a similar vein, there have been numerous delays in the Phung Khoang Lake Park project, conceived to expand green spaces and enhance the quality of urban living. Despite its promise to become a community hub, it remains unfinished. Chairman of the Hanoi People’s Committee, Tran Sy Thanh, has set a strict timetable for completion, aiming for a grand reopening by Lunar New Year 2025.

The wastefulness extends beyond high-profile projects. Hanoi is home to numerous state-owned properties in prime districts such as Dong Da, Ba Dinh and Hoan Kiem that sit empty or are used inefficiently. Tracts of public land and buildings, once bustling with administrative or industrial activities, now contribute nothing to the city’s development. Their neglect underscores the urgent need for systemic reforms.

Recognizing these inefficiencies, Hanoi’s leadership has adopted a multi-pronged approach. Comprehensive audits of public assets, stricter enforcement of land use regulations, and targeted incentives for redevelopment are among the measures being rolled out. Projects that are either inactive or deemed unfeasible will be canceled or reassigned to entities capable of delivering results.

A significant obstacle in addressing delays has been the intricacy of Vietnam’s bureaucratic landscape. Lengthy approval processes, overlapping jurisdictions, and outdated administrative practices have slowed down project execution across the city. Hanoi is tackling these challenges head-on by initiating administrative reforms that prioritize efficiency and accountability.

The city has introduced streamlined mechanisms for land clearance and legal changes, key bottlenecks in urban development. In the case of Phung Khoang Lake Park, the authorities are coordinating closely with developers and local communities to resolve logistical and legal hurdles speedily.

Effective urban administration requires collaboration among multiple stakeholders, and Hanoi’s leadership has recognized the critical role that partnerships play in this endeavor. Businesses, community groups, and international investors are being engaged to revitalize public assets and accelerate project timelines.

Developers of unfinished projects, in particular, are being called upon to fulfill their commitments. Authorities are also working to foster constructive dialogues between project stakeholders, ensuring that issues are settled amicably and efficiently. Public participation, through mechanisms like community consultations and open reporting on project progress, is being encouraged to foster trust and accountability.

The Capital Law 2024 as the key

A cornerstone of Hanoi's renewed approach to governance is the revised Capital Law 2024, which grants the city greater autonomy in managing urban planning and public resources. The law empowers Hanoi to enact tailored policies, cut red tape, and expedite critical decisions.

This legislation is particularly significant for addressing notorious delays such as the Cao-Xa-La complex and Phung Khoang Lake Park. By streamlining procedures for land reclamation and redevelopment, the Capital Law provides the legal framework necessary to unlock these projects’ potential. Moreover, it allows Hanoi to impose stricter penalties for non-compliance, ensuring accountability at all levels of project delivery.

Transparency is at the heart of Hanoi’s anti-waste strategy. By making information on public projects readily available, the city aims to rebuild public trust and encourage active citizen participation in urban governance. Regular updates on the status of the project, including detailed timelines and financial reports, are shared through official channels.

Anti-corruption measures are also being strengthened to ensure that resource allocation and decision-making processes remain above board. As well as tackling inefficiencies, Hanoi is setting new standards of governance for other cities and provinces in Vietnam to emulate.

The drive to eliminate waste and accelerate projects is about more than rectifying past shortcomings. Hanoi envisions itself as a green, dynamic, and inclusive city, where resources are optimized for the benefit of all residents. Investments in green spaces like Phung Khoang Lake Park reflect the city's commitment to sustainability, while efforts to rejuvenate areas like the Cao-Xa-La complex underscore its focus on innovation and growth.

Hanoi’s leadership is well aware that the stakes go beyond local boundaries. As the political and cultural heart of Vietnam, Hanoi’s success serves as a blueprint for urban development across the country. The city's actions today are setting the stage for a future in which efficiency, sustainability, and equity define its growth trajectory.

While challenges remain, Hanoi's proactive measures to combat waste and fast-track projects mark a turning point. The establishment of the Steering Committee for Anti-Waste Measures, coupled with reforms under the Capital Law 2024, has laid a solid foundation for transformative changes.

By fostering collaboration, embracing transparency, and leveraging its recently acquired legal powers, Hanoi is demonstrating how cities can overcome entrenched inefficiencies to realize their full potential. As delayed projects come to fruition and wasted assets are repurposed, the city is poised to emerge stronger, greener, and more resilient than ever before.

This journey is not just about solving immediate problems; it is about charting a sustainable path for Hanoi’s future as a global metropolis that remains firmly anchored in its cultural heritage and committed to the welfare of its people.