On the final day of the 10th session of the 15th National Assembly (NA), December 11-12, a resolution was passed to amend and supplement certain articles of Resolution 98/2023. This resolution focuses on pilot mechanisms and special policies for the development of Ho Chi Minh City (HCMC). It came into effect on December 12.
The resolution introduces advanced mechanisms and policies tailored to the current development phase, granting HCMC a more flexible institutional framework. This empowers the city to proactively invest, plan, and develop new models.
Specifically, the new resolution allows the HCMC People’s Council to use the local budget for independent public investment projects. These projects aim to compensate, support, and relocate residents for urban design projects, regional urban planning near railway stations, and areas adjacent to Ring Road 3 intersections within the city. The goal is to reclaim land, renovate urban areas, create land funds for land use auctions, and implement urban development, commercial, and service projects. It also allows for payment to investors under Build-Transfer (BT) contracts for railway projects.
Additionally, HCMC is permitted to retain 100% of the revenue from land exploitation in Transit-Oriented Development (TOD) areas. This budget will be fully allocated to TOD projects, including urban rail and other transportation initiatives.
Party and State leaders, along with NA delegates, at the closing session of the 10th NA session. Photo: LÂM HIỂN
Regarding planning, HCMC will have a single comprehensive plan based on national and regional plans, integrating provincial and city master plans. This comprehensive plan will replace provincial and city master plans and hold the same legal value as a provincial plan.
Furthermore, the resolution allows for the establishment and operation of the HCMC Free Trade Zone. This zone, with defined geographical boundaries, will pilot innovative mechanisms and policies to attract high-quality investment, finance, trade, and services. It aims to boost exports, industry, research and development (R&D), and attract top talent.
A key aspect of the resolution is the priority list and policies to attract strategic investors. It adds 11 project groups to this list, notably including entertainment and resort complexes along the Saigon and Dong Nai rivers and coastal areas. These projects require a minimum investment of VND 30 trillion and must include 5-star accommodations, luxury resorts, shopping, and entertainment facilities.
The resolution also includes infrastructure projects in the Free Trade Zone, such as port investments of at least VND 75 trillion, logistics centers of VND 25 trillion, and industrial, urban, and service zones of VND 20 trillion or more.
Additionally, the resolution introduces unprecedented mechanisms and policies to attract strategic investors to HCMC.
For the People, For the Nation
After 40 days of continuous, urgent, and rigorous work, the 10th NA session concluded with a scientific, innovative, and highly responsible spirit. All agenda items were successfully addressed.
At the closing session, the NA adopted the resolution for the 10th session, passing 51 laws and 39 resolutions.
In his closing remarks, NA Chairman Tran Thanh Man urged the Government, ministries, sectors, and localities to swiftly implement the adopted laws and resolutions. He emphasized the need to achieve growth targets and socio-economic development goals for 2026-2030, ensure national defense and security, and improve the livelihoods of the people, especially in areas severely affected by natural disasters.
Chairman Man stressed that the nation’s new development phase requires the Party, people, and military to maximize their patriotism, development aspirations, and unity. He called for bold thinking and effective implementation of strategic decisions.
“The NA, its agencies, and delegates must strive harder, speak up, act boldly, and take responsibility for the people and the nation. This will significantly contribute to our nation’s entry into a new era—an era of national resurgence,” Chairman Man emphasized.
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