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Ho Chi Minh City: Developing Regulations On Compensation Coordination

Establishment of coordination regulations for compensation

The People’s Committee of Ho Chi Minh City has instructed the Department of Natural Resources and Environment to preside and coordinate with the people’s committees of districts and departments and sectors to synthesize and report on the situation, results of implementation of compensation, support and resettlement when the state acquired land in the area of Ho Chi Minh City in recent years.

The Department of Natural Resources and Environment studies and evaluates the legal basis and the feasibility of establishing the Land Development Center of districts.

Establishment of coordination regulations for compensation
The resettlement area of Vinh Loc B

Besides that, chairing and coordinating with departments, People’s Committees of districts and districts to urgently set up regulations on coordination of compensation, support, and resettlement when the State recovers land in Ho Chi Minh City and submitted to the City People’s Committee for consideration and decision. The latest time is in November 2017.

You can read more information at Vietnam Real Estate News

At the same time, the Department of Finance is assigned to advise and propose mechanisms for advancing capital from the City Development Fund or the Financial Investment Company of Ho Chi Minh City (HFIC) to implement compensation, support and resettlement according to plan, plan to create the clean land fund. After that, bidding for investor selection or auction of land use rights to create capital for implementation of 7 City Party Committee’s breakthrough programs.

In addition, in replacement of Decision No. 69/2008 / QD-UBND dated September 5, 2008 of the HCMC People’s Committee, the Finance Department should advise and submit to the People’s Committee of Ho Chi Minh city regulations on management and use of business and use funds for compensation, supports and resettlement when the state recovers land in Ho Chi Minh City. Completion date, by the end of December 2017.

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