Under a decision recently signed by Chairman of the Hanoi People's Committee Vu Dai Thang, the Hanoi Capital Reward Fund is a state financial fund operating outside the regular budget system and managed by the municipal government on a non-profit basis.

The fund aims to provide timely recognition and encouragement for exceptional, breakthrough achievements that contribute to the construction, development, management and protection of the capital. Hanoi's Department of Home Affairs has been assigned responsibility for managing the fund.

According to the regulations, the fund will receive resources from annual increases in tax and fee revenues above the city's budget estimates, along with other lawful financial sources approved by the Hanoi People's Council.

The funding will be used to reward Vietnamese and foreign organisations, households and individuals whose achievements and contributions support Hanoi's development.

Eligible recipients include those with particularly outstanding accomplishments or significant contributions in the construction, development, management and protection of the capital.

Authorities said the fund must be managed and used in a transparent, effective and accountable manner, ensuring resources are allocated for the correct purposes and recipients in accordance with legal regulations.

The fund cannot be used to cover routine operating expenses of the managing agency or any expenditure unrelated to its core functions.

Any donations, sponsorships or aid contributions to the fund must be received on a voluntary basis and handled transparently in accordance with Vietnamese law.

The regulations also stipulate that a single achievement qualifying for multiple reward policies may receive only the highest available reward from the fund. Achievements already recognised through other city or central government reward mechanisms will not receive duplicate awards.

Each achievement can only be rewarded once.

Awards will be assessed based on measurable results, practical impact, sustainability and the extent to which contributions benefit Hanoi and support its long-term development goals.

Priority will be given to contributions that help address major, urgent or long-term challenges facing the capital.

The priority areas include science and technology, innovation, digital transformation, artificial intelligence, digital data, cultural industries, green development, the circular economy, smart urban development, administrative reform, public service improvement, heritage preservation and promotion, international integration and other strategic sectors identified by the city.

The regulations emphasise that reward levels must reflect the value, impact and social influence of each contribution rather than being distributed equally or symbolically.

Achievements that have not been independently verified will not be considered. The same applies to contributions involved in ownership disputes, copyright disputes or intellectual property conflicts.

Individuals or organisations found to have provided false information during the nomination, verification or evaluation process will also be excluded.

Cases that are under inspection, investigation or subject to unresolved complaints or accusations will not be eligible for consideration until the relevant authorities have reached a conclusion.

Those involved in evaluating and recommending awards must maintain independence and objectivity and may not participate in assessing applications linked to their own interests, relatives or organisations under their management.

The city also stated that allocations to the fund will depend on Hanoi's budget capacity after all statutory spending obligations and financial responsibilities have been fulfilled.

Any unused balance remaining at the end of a fiscal year will be carried forward for future awards.

Thanh Hue