Accordingly, Vice Chairman Bui Xuan Cuong has signed the official document conveying the directive of the city’s Chairman regarding the implementation of Resolution 17/2025, recently passed by the Ho Chi Minh City People’s Council. The resolution outlines preferential policies and support mechanisms designed to encourage investors to participate in the renovation and reconstruction of aging apartment buildings throughout the city.
Under the directive, the Department of Finance has been assigned to take the lead and provide guidance to the Department of Construction. The agency allocated budget estimates from the city's recurrent expenditure fund in implementing the incentive mechanisms outlined in Resolution 17/2025.
The Department of Construction will coordinate with relevant departments and agencies to review the content of the resolution and advise the Ho Chi Minh City People’s Committee on appropriate decisions regarding investment projects to renovate and rebuild apartment buildings. These recommendations must be aligned with the defined scope, target groups, content, levels, principles, and methods of incentives and support and must strictly comply with current legal regulations.
The People's Committees of wards in Ho Chi Minh City, where apartment buildings constructed before 1994 are located, have been assigned the responsibility of informing relevant organizations and individuals within affected areas about the implementation of Resolution 17/2025.
Under the resolution, project developers involved in the renovation and reconstruction of aging apartment buildings will be eligible for significant financial incentives. Specifically, they will receive support covering 50 percent of the cost of technical infrastructure construction within the project site, capped at VND10 billion (US$378,569) per project. In addition, they will be entitled to a 50 percent subsidy for relocation and forced relocation expenses, as stipulated by the Housing Law.
