Hanoi to Set Up VND5T Land Development Fund
The People’s Committee of Hanoi has approved establishment of the municipal land development fund with a total capital of VND5 trillion by 2015.
The fund will have three main bodies, consisting of capital management department, department for order management, house-purchasing and resettlement payment, and administration and planning department.
Its major task is to serve for compensation, ground clearance works and to manage the land fund for socio-economic development progress, and supporting the implementation of the state’s policies for those people whose land has been revoked. (Vietnam Economic Times)
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