Business

Hanoi promotes auctions of land use rights

Hanoi plans to promote auctions of land use rights from now to 2020 in order to make effective use of land fund and meet the increasing demand of businesses and people.
Hanoi promotes auctions of land use rights ảnh 1The city hopes to collect over 53.5 trillion VND (2.3 billion USD) to the budget from auctioning 677.36 hectares of land in 2018-2020 (Photo: VNA)

Hanoi (VNA) – Hanoi plans to promoteauctions of land use rights from now to 2020 in order to make effective use ofland fund and meet the increasing demand of businesses and people.

The move is expected to increase the localbudget and create more capital sources for investment in buildingsocio-technical infrastructure systems and implementing the national programmeon developing new rural areas.

According to the plan of the municipal People'sCommittee, the city hopes to collect over 53.5 trillion VND (2.3 billion USD)to the budget from auctioning 677.36 hectares of land in 2018-2020.

Particularly, in 2018, some 193.41 hectares of land will be auctioned, rakingin more than 13.7 trillion VND (602.1 million USD).

In 2019, Hanoi plans to auction nearly 197 hectares of land, earning over 15.9trillion VND (698.8 million USD).

About 286.9 hectares of land will be auctioned in 2020, grossing over 23.8trillion VND (1.04 billion USD).

The total expenses for land clearance and technical infrastructure constructionbetween 2018 and 2020 are estimated over 17.5 trillion VND (769.1 million USD). 

Hanoi earned over 7.9 trillion VND (347.2million USD) from auctioning land-use rights last year, pushing the totalrevenue it earned from land up to 37 trillion VND (1.6 billion USD).

Land-related revenue, including land leases, land fees and land auctions,accounted for 15 percent of the city’s total budget in 2017.

More than 1.53 million land plots, 98.74 percent of which in the city, have nowbeen declared and certificated.

Certifications were granted to land users of over 196,000 land plots, the usageof which was declared for the first time last year.

In 2017, the municipal authorities approved over 2,000 projects on landeviction, land allocation, land lease or changes in land-use purpose. Theprojects cover a total area of nearly 8,000 hectares.

More than 700 hectares of rice, protected forest and special use forest wereshifted for other purposes, while over 300 hectares of service land wasallocated to nearly 39,000 families for management and use.-VNA
VNA
#Hanoi #auctions #land use rights #land fund #businesses #people #socio-technical infrastructure systems #rural areas #Vietnamplus #Vietnam News Agency Ha Noi
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