Authorities in Hanoi announced a plan for a land development fund with an initial capital of VND1 trillion (USD47.8 million).

The fund would be used for "site clearance"

The fund would be used for "site clearance", which involves relocation compensation for families who live in locations where large projects are to be built.

The fund will be managed by the municipal government, with additional funding coming from land use fees, land leasing fees and other sources.

According to municipal officials, about 30% of land use fees will be used for these site clearance and resettlement funds.

In many areas with planned projects owners wish to sell their land before reclamation, the goal of establishing the fund is to resolve these land use rights issues.

The fund would also be used to advance capital to organisations that provide vocational training to those who have been displaced by these projects.