Ho Chi Minh City implements incentive mechanisms when renovating and rebuilding old apartment buildings

The Department of Construction of Ho Chi Minh City has just submitted a document to the People's Committee of Ho Chi Minh City on the implementation of Resolution 17/2025/NQ-HDND of the People's Council of Ho Chi Minh City regulating incentive and support mechanisms for investors when participating in renovating and rebuilding apartment buildings in Ho Chi Minh City (Resolution 17).

Thanh Da Apartment Building, in Binh Quoi Ward, HCMC. Photo: THANH HIEN

The Department of Construction was assigned by the People's Committee of Ho Chi Minh City to preside over and coordinate with relevant agencies and units to review and advise the People's Committee of Ho Chi Minh City on the implementation of Resolution 17. In Clause 2, Article 3, Resolution 17 stipulates that the Department of Construction is the agency allocated with a budget estimate from the regular expenditure capital of the City budget to implement this mechanism. Therefore, in order to have a basis for implementing Resolution 17, the Department of Construction proposed that the People's Committee of Ho Chi Minh City give instructions to assign the Office of the People's Committee of Ho Chi Minh City to post Resolution 17 on the City's electronic information portal so that organizations can participate in the implementation.

At the same time, the Ho Chi Minh City People's Committee assigned the Department of Finance to preside over and guide the Department of Construction to be the agency allocated with budget estimates using regular expenditure capital from the City's budget to implement the mechanism according to Resolution 17.

The Department of Construction recommends that the People's Committee of Ho Chi Minh City assign the People's Committees of wards with apartment buildings built before 1994 in Ho Chi Minh City to inform organizations and individuals in the locations and areas with apartment buildings subject to renovation and reconstruction in their management areas to implement Resolution 17 so that organizations and individuals can participate.

According to Resolution 17, investors of apartment building renovation and reconstruction projects implemented in accordance with this resolution will be supported with 50% of the cost of constructing technical infrastructure works within the scope of the project but not exceeding 10 billion VND/project; supported with 50% of the cost of relocation and forced relocation according to the decision of the Housing Law....

According to a report by the Ho Chi Minh City Department of Construction, currently, in Ho Chi Minh City there are 42 apartment buildings built before 1992 that need to be renovated and rebuilt.

THANH HIEN

Source: https://www.sggp.org.vn/tphcm-trien-khai-co-che-uu-dai-khi-cai-tao-xay-dung-lai-chung-cu-cu-post811457.html