CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Hanoinews
Hanoi to raise US$2.32 billion in land auctions
Ngoc Thuy 15:32, 2018/05/04
Hanoi is expected to raise VND53 trillion (US$2.32 billion) from auctioning land-use rights in period 2018 - 2020, according to the plan No.99 recent released by the Hanoi People`s Committee.
Following the plan, total number of projects subject to land-use rights auctioning in 2018 is 679 in an area of 193 hectares. 
 
Hanoi to raise US$2.32 billion in land auctions.
Hanoi to raise US$2.32 billion in land auctions.
Substantially, 111 projects are under the city's administration, while the remaining 568 are under districts and wards' management. It is expected to have a return of VND13.7 trillion (US$602 million) from auctioning the mentioned land areas. 

In 2019, 635 projects in 197 hectares are expected to go through auction, in which the city manages 152 projects and districts/wards level manage 483 projects. The auction is estimated to generate VND16 trillion (US$702.4 million).

Last but not least, in 2020, 453 projects in 287 hectares will be auctioned, in which 166 projects are under city's administration and 287 projects under districts/wards administration. The city is expected to have VND23.8 trillion (US$1.04 billion) in return. 

Under the Hanoi People's Committee request, the auction is aimed to utilize land funds efficiently, meeting citizens and enterprises' demands for land use. Additionally, revenue from the auction will be allocated for state budget at city and district/ward level, generating sufficient investment capital for the implementation of public infrastructure development projects. 

The city assigned districts and wards authorities to be responsible over the process of auctioning land-use rights, supporting the successful bidders in related administrative procedures. Local authorities will also be tasked with managing the investment and construction of investors at projects in subject. 

Hanoi earned VND7.95 trillion (US$349 million) from auctioning land-use rights last year, pushing the total revenue it earned from land up to VND37 trillion ($1.62 billion).
Land-related revenue, including land leases, land fees and land auctions, accounted for 15% of the city's total budget last year.

Hanoi aims to reach GRDP target at 7.3-7.8% in 2018. The city expects to have over 50,000 newly established enterprises in 2018 (including business households which are transformed into enterprises). Along with this target, Hanoi expect the service's growth of 6.9-7.5%; while that of industry and construction at 8.2%-8.7%; export turnover at 7.5-8%.

In 2017, Hanoi reached GRDP at 8,5%, according to Hanoi's Statistics Bureau. The city's 2018 target is actually the same to its 2017 figures, but is revised under the new methodology, which is stated in its 2018 economic plan report.
Comments
Other news
11:52, 2024/11/04
Hanoi delegation visits Vietnamese business in Cuba
ViMariel is hailed for its efforts to contribute to Cuban economic development and foster stronger economic ties between Vietnam and Cuba.
11:57, 2024/11/03
Hanoi looks to export cultural products
It aims to turn the capital's cultural industry into a major economic sector.
21:57, 2024/11/02
Hanoi prioritizes transitional green spaces
Green spaces within buildings are essential for improving the microclimate, creating a healthy living environment, and enhancing the well-being of occupants.
21:40, 2024/11/02
Hanoi eyes world-class sporting complex
The Me Linh District Sports Park envisions a world-class sports complex, designed to potentially serve as an Olympic venue in the future.
23:33, 2024/11/01
Hanoi determined to speed up Yen Xa Wastewater Treatment project
Hanoi is relentless in removing obstacles to the construction of the wastewater treatment plant.
13:14, 2024/11/01
Hanoi seeks to promote Vietnamese culture and image in Brazil
The activities would deepen Brazil-Vietnam friendship, support Vietnamese citizens in Brazil, and strengthen ties between the Vietnamese community and local authorities.