Under the resolution, Hanoi will be allowed to use a financial reserve fund to invest in infrastructure projects as part of a medium-term public investment plan. The city can also use its budget to support other localities.

Lawmakers also agreed to reduce corporate income taxes 6 percent to help businesses recover from Covid-19 effects.

The National Assembly voted overwhelmingly in favor of a proposal by the Ministry of Finance to reduce taxes from 20 percent to 14 percent. All businesses with annual revenues of 8.6 million USD or less and fewer than 200 employees will be eligible for the tax break.