Specific financial policies considered for Hanoi

The proposal will be presented to the National Assembly in the second phase of its 9th session.

The government proposed that Hanoi can increase administrative fees but not exceeding 1.5 times the current rates. Most committee members agreed, but said the city's People Council can decide which fees and how much to increase based on an agreement of the public, instead of imposing a cap.

The Committee agreed that Hanoi can be allowed to use the remaining of its salary reform budget for the city's development projects or for implementation of social security policies.

Hanoi might also use money saved from the regular funding of some units to invest in small-scale constructions instead of following the procedure regulated by the public investment law. Hanoi will receive all revenues from the equitisation of state-owned companies or divestment of state capital from companies that the people's committee represents state capital owner.