Hanoi to sell off state-owned properties to balance budget

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Hanoi has announced a plan to auction off 68 state-owned properties around the city in an attempt to improve funding.

The vacant lots and residential and commercial estates cover a combined area of 102 hectares (252 acres).

The city has estimated their total value at roughly VND10 trillion ($440 million).

Hanoi plans to rely on selling nearly half billion dollars worth of these properties by the end of the year to find funding sources to upgrade its infrastructure, develop new urban residential areas, and invest in other public projects.

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