On the afternoon of November 24th, immediately after the National Assembly concluded discussions on the amended Press Law, the Standing Committee of the National Assembly continued its 51st session, providing feedback on several critical issues. Among these was the draft Resolution of the National Assembly to amend and supplement certain articles of Resolution No. 98/2023/QH15 on piloting specific mechanisms and policies for the development of Ho Chi Minh City.
Eliminating Regulations on Thu Duc City
Representing the Government, Minister of Finance Nguyen Van Thang presented a summary of the draft Resolution.
According to the Minister, to achieve the goals outlined in the resolutions of the Politburo and to realize the target of double-digit growth, Ho Chi Minh City needs to mobilize an additional VND 1,800 trillion from strategic investors over the next five years, equivalent to USD 8-12 billion per year.
This necessitates the addition of breakthrough solutions beyond existing laws and Resolution 98. The draft Resolution introduces several new provisions, including the establishment of a free trade zone to attract investment and the elimination of regulations concerning Thu Duc City. It also incorporates provisions for investment management, payment through land funds derived from Transit-Oriented Development (TOD) models, and project selection.
 Minister Nguyen Van Thang stated that Ho Chi Minh City‘s development requires USD 8-12 billion annually, necessitating amendments to Resolution 98. Photo: QH |
Minister Nguyen Van Thang further noted that the Government proposes delegating authority to the People’s Committee of Ho Chi Minh City to decide on the construction of commercial, service, public, and utility buildings in conjunction with housing projects.
Additionally, the People’s Committee will be empowered to determine economic and technical indicators, land use planning parameters, and the sale, transfer, lease, lease-purchase, and sublease of commercial, service, public, and utility buildings based on project durations. This includes facilities at railway stations, maintenance yards, and areas adjacent to Ring Road 3.
The Resolution also proposes expanding special investment procedures to projects in industrial zones, export processing zones, high-tech parks, and concentrated IT zones. It introduces corporate income tax incentives for infrastructure projects and other provisions.
Delegating Authority to Establish Free Trade Zones
To align with the National Assembly’s Resolution on private economic development, the draft introduces a new article (Article 7a) on establishing free trade zones.
Minister Nguyen Van Thang explained that the draft empowers the People’s Committee of Ho Chi Minh City to establish, expand, and adjust the boundaries of free trade zones. The People’s Council will outline procedures for these actions.
Decisions regarding the establishment, expansion, or boundary adjustments of free trade zones will be considered as partial adjustments to the city’s master plan. The People’s Committee will update relevant planning documents with full legal provisions.
Minister Nguyen Van Thang emphasized the need for USD 8-12 billion annually for Ho Chi Minh City‘s development, requiring amendments to Resolution 98. Photo: QH |
The draft assigns the Management Board of Export Processing and Industrial Zones to directly oversee state management in free trade zones. This includes providing administrative and support services related to investment, production, and business operations for companies within these zones.
The Resolution strengthens customs management in free trade zones, granting regional customs directors greater authority to prioritize businesses, in addition to existing customs regulations.
Minister Nguyen Van Thang highlighted that the draft allows land allocation and leasing through auctions and tenders for investment projects in free trade zones, excluding commercial housing. It also offers corporate income tax and personal income tax incentives for experts, scientists, and high-skilled workers.
Finally, the draft permits businesses in free trade zones to list, quote, price, and contract in foreign currencies, as well as settle transactions in foreign currencies for goods and services provided within the zone.
Agreement on Expedited Procedures
Summarizing the review report, Chairman of the Economic and Financial Committee Phan Van Mai stated that the Committee and other National Assembly bodies agreed with the Government’s proposal to amend Resolution No. 98.
These amendments align with the reorganization of local government structures and operations, leveraging Ho Chi Minh City‘s potential, strengths, and advantages to expand its administrative boundaries. This supports the goal of achieving double-digit economic growth between 2026 and 2030.
The amendments also institutionalize the Party and State’s policies and laws, particularly breakthrough policies, and concretize the directives of Party and State leaders. They further implement Resolution No. 31 of the Politburo on Ho Chi Minh City‘s development until 2030, with a vision to 2045, and other National Assembly resolutions.
 Minister Nguyen Van Thang reiterated the need for USD 8-12 billion annually for Ho Chi Minh City‘s development, emphasizing the importance of amending Resolution 98. Photo: QH |
According to Mr. Pham Van Mai, to promptly implement new policies and seize opportunities, the Standing Committee of the Economic and Financial Committee and other National Assembly bodies agreed to propose an expedited procedure to the Standing Committee of the National Assembly. This includes reviewing the draft Resolution’s content and deciding on its inclusion in the 10th Session agenda, provided it meets quality standards and receives approval from the competent Party authorities.
However, the review report cautioned against overly broad policies, given their importance and urgency. The Government’s proposals include several provisions that differ from existing laws and those under amendment by the National Assembly.
Additionally, many policies in the draft Resolution overlap with current laws and those under review during this session. Some provisions fall outside the National Assembly’s jurisdiction.
In subsequent discussions, National Assembly Chairman Tran Thanh Man and other Standing Committee members advised the Government on preparing the draft Resolution’s documentation. They emphasized incorporating feedback from the review report and session discussions to refine the draft.
Ultimately, the Standing Committee of the National Assembly approved the draft Resolution for submission to the National Assembly, as proposed by the Government.
REPORTING TEAM
– 19:15 24/11/2025
Unveiling the Roles of Hứa Thị Phấn and Her Brother Hứa Xường in the Unauthorized 249 Billion VND Loan Scandal
The Ho Chi Minh City People’s Procuracy has indicted nine individuals involved in a fraudulent loan scheme totaling nearly VND 249 billion at a local bank. Authorities identified Hứa Thị Phấn as the mastermind behind the embezzlement, but she has since passed away, exempting her from criminal prosecution. Meanwhile, her brother, Hứa Xường, who has fled the country, remains at large and is currently wanted by law enforcement.
Revival of The Spirit of Saigon: Construction Resumes at Bến Thành’s Iconic Quadrilateral Super Project
The highly anticipated Spirit of Saigon mega-project officially broke ground on November 11th, as announced by the developer.
Unveiling the Heart of ESG++ Vinhomes Green Paradise: Anticipation Builds for the Grand Reveal
Experience the ultimate in luxury living at Vinhomes Green Paradise, where The Heaven Bay (Vịnh Tiên) sets a new standard for exclusivity. With the highest density of ultra-convenient amenities in the community, this upcoming phase offers an unparalleled lifestyle. Starting at just 13 billion VND per townhouse (excluding taxes and maintenance fees), The Heaven Bay has already created a buzz in the market, promising an exceptional investment opportunity.
Vietnam’s Most Populous City to Construct 4-Level Interchange and 12,000 Billion VND Road Network, Aiming to Alleviate Eastern Gateway Congestion
The Go Cong Interchange, seamlessly connecting to Ring Road 3, boasts a sophisticated 4-tier design featuring multiple overpasses and underpasses. This innovative structure significantly enhances traffic connectivity in the eastern region of Ho Chi Minh City.
Ho Chi Minh City Launches Over 900 Infrastructure Projects for 2026–2030 Phase
These are predominantly Group A, B, and C projects in the transportation and urban infrastructure sector, spanning across Ho Chi Minh City and its neighboring provinces.
