On October 31st, in a conversation with reporters from Bao Nguoi Lao Dong, Mr. Bui Ta Hoang Vu, Director of the Department of Industry and Trade of Ho Chi Minh City, stated that mechanisms and policies proposing the establishment of a Free Trade Zone (FTZ) in Ho Chi Minh City are under review. These proposals are being incorporated into the amendments of Resolution No. 98/2023/QH15 by the National Assembly.
Currently, the draft has been approved by the Appraisal Council of the Ministry of Justice. The Ministry of Finance is in the process of gathering feedback from the Standing Committee of the National Assembly and will submit it to the National Assembly for consideration and approval as per regulations.
According to the draft resolution amending Resolution 98/2025/QH15, Ho Chi Minh City has proposed 21 policies across 6 groups, including: Policies on authority and establishment procedures; Policies on organizational model and management mechanisms; Land policies; Policies on administrative procedures and investment conditions; Tax and investment incentive policies; and Policies on customs mechanisms and logistics. However, detailed information about these policy proposals has not yet been disclosed.
A rendering of the Cai Mep Ha FTZ
The proposed FTZ, named Cai Mep Ha, is located in Tan Phuoc and Tan Hai wards, covering an area of approximately 3,808.53 hectares. It is a multi-functional integrated zone with defined geographical boundaries and space, divided into 3 functional areas with 8 adjacent sub-zones.
The first functional area: Transportation hub, comprising 5 sub-zones for seaports, inland waterways, and railway stations, with a total area of 1,779.41 hectares.
The second functional area: Logistics and industrial warehouses, consisting of 2 sub-zones, covering 1,178.52 hectares.
The third functional area: Commercial and high-tech industrial urban area, with 1 sub-zone spanning 850.67 hectares, including 703.32 hectares for functional planning and 147.37 hectares for green reserves and forest carbon credits.
Another rendering of the Cai Mep Ha FTZ
Prime Minister Chairs Conference on Establishing International Financial Center
On November 1st, Prime Minister Phạm Minh Chính chaired a conference at the Government Office regarding the establishment of an International Financial Center in Vietnam. The event was held both in-person and virtually, connecting participants from the UK, Czech Republic, Hong Kong (China), and Indonesia.
Prime Minister: International Financial Center Must Commence Operations by November
Prime Minister Pham Minh Chinh has directed all relevant ministries and agencies to finalize the necessary decrees for the official launch of Vietnam’s International Financial Center in November. The center will operate under a unique “one center – two destinations” model, strategically located in Ho Chi Minh City and Da Nang.
Only 9% of Apartments in Ho Chi Minh City Are Priced Below VND 3 Billion
The Southern apartment market is experiencing a stark polarization. In Ho Chi Minh City, apartments priced under 3 billion VND account for a mere 9% of total transactions. Conversely, in neighboring provinces, these affordably priced units dominate, representing over 60% of all deals.
Unusual Developments in Once-Hot Land Plots in Dong Nai, Hung Yen, Bac Ninh, and Ninh Binh
According to the Ministry of Construction, regions such as Dong Nai, Hung Yen, Bac Ninh, and Ninh Binh, after experiencing a “feverish” period earlier this year, have now returned to a stable state. The majority of transactions are genuine purchases, catering to either residential needs or long-term investment goals.
Ho Chi Minh City Poised to Become Southeast Asia’s Next Global Megacity
Driven by the resolve to overcome critical challenges such as traffic congestion, flooding, and administrative inefficiencies, Ho Chi Minh City aims to foster a seamless investment environment. By partnering with foreign direct investment (FDI) enterprises, the city strives to shape a dynamic, investor-friendly international metropolis, ultimately fueling sustainable growth across the Southern region.
