Accordingly, Hanoi City continues to maintain and perfect the fund organization structure; at the same time, amend and supplement the decision to establish, the organization and operation charter; adjust the trust and receipt of the Land Development Fund according to the 2024 Land Law, Decree No. 104/2024 dated July 31, 2024 of the Government and related legal regulations.
The goal is to focus financial resources, promptly meet the demand for capital allocation for site clearance, resettlement, and create land funds to implement land policies; at the same time, create and develop resettlement land funds and land funds according to approved plans and plans to serve the socio-economic development of the capital.
According to the project, the Hanoi City Land Development Fund is a state financial fund outside the budget, operating not for profit, under the City People's Committee. The fund has legal status, its own seal and account, and is opened at the State Treasury and state-owned commercial banks. The head office is located at No. 2, Phan Chu Trinh Alley, Cua Nam Ward.
The Fund performs 7 main tasks and 5 powers such as: providing capital for compensation, support, resettlement, creating land funds; preserving and developing capital; recovering capital contributions; checking capital use; performing periodic and ad hoc reports as required by the City People's Committee. The Fund also has the task of managing and operating its activities; promulgating regulations and handling cases of misuse of capital.
Regarding the organizational structure, the Land Development Fund includes: Management Board (including Chairman, Vice Chairman and members); Control Board (including Head and members); professional management agency including Director, Deputy Director, Chief Accountant and professional departments under the Executive Board of the Hanoi City Development Investment Fund. The fund operates under a trust model.
Operating capital includes: charter capital of VND 5,967,120,000,000 (including surplus capital and surplus capital allocation); additional sources from the city budget and the difference in revenue - expenditure of the fund; other legal capital sources such as domestic and foreign aid and sponsorship according to regulations.
The use of capital includes capital allocation for tasks such as: site clearance compensation, land fund development, support for ethnic minorities, and other tasks according to regulations.
The annual capital contribution plan is approved by the Chairman of the City People's Committee; the project to be supported must have an approved decision, a clear and consistent repayment plan with the plan.
The fund director is the competent person to decide on capital allocation according to the approved plan; the dossier is complete and the disbursement must be on schedule. The capital donors are responsible for refunding management costs according to Decree No. 104/2024 and will be handled if they do not return on time or use capital for the wrong purpose.
The City People's Committee assigned the Department of Home Affairs to preside over the development and submit to the City People's Committee to issue a project to improve the organization; the Department of Finance to advise on financial management, issue a decision on entrustment and capital supplementation.
The Hanoi City Development Investment Fund shall entrust and ensure the operation of the Fund according to regulations. The Land Development Fund operates according to the charter, opens an account, registers seals, and advises on the development of an operating process. Relevant agencies shall perform their tasks according to their functions, according to Decree No. 104/2024 and the direction of the City People's Committee.
