Transform Ho Chi Minh City into a creative megacity.

The draft resolution replacing Resolution 98/2023 on piloting some specific mechanisms and policies for the development of Ho Chi Minh City has been approved by the Standing Committee of the National Assembly and is expected to be submitted to the National Assembly at this 10th session.

Ho Chi Minh City is determined to become a creative megacity - Photo: VAN TRUNG

Experts and National Assembly representatives unanimously agreed on the proposal to further decentralize and empower Ho Chi Minh City, giving the city maximum autonomy in attracting investment and strategic investors.

Help the city leap forward in status.

With the vision of Ho Chi Minh City becoming a creative megacity, Professor Vu Minh Khuong (Lee Kuan Yew School of Public Policy - National University of Singapore) proposed three criteria for grouping sectors according to objectives to attract strategic investors.

The first group consists of sectors that create systemic spillover and synergy, focusing on industries capable of driving growth. This contributes to reducing system costs, increasing productivity, and elevating the value chain.

The second group consists of sectors embracing new technological trends (industries of the future such as artificial intelligence (AI), semiconductors, etc.). These sectors aim to create breakthrough growth drivers in the next 5, 10, or 20 years; linked to cutting-edge technology, new business models, and next-generation global value chains.

The third group, according to him, consists of strategically essential sectors aimed at increasing resilience and self-reliance. This includes industries that are vital to regional and national economic security, helping to reduce the risk of supply chain disruptions, strengthen self-reliance in energy, food, healthcare, and data, and enhance long-term recovery capabilities.

To focus on attracting strategic investors to the city, he emphasized that institutional frameworks are the "key." He stressed the need to revise Resolution 98 to become Resolution 98-2.0. He suggested considering the establishment of a City Development Department. In practice, he suggested referencing models such as China's DDRC, Singapore's EDB, and Ireland's IDA.

He proposed five upgrades to Resolution 98. These included a proposal to establish a Southeast Asia Regional Development Agency. Furthermore, he suggested a commitment that strategic investors in Ho Chi Minh City would receive incentives competitive with those offered by Singapore, Dubai, Ireland, and China's Free Trade Zones.

Special incentives are offered to strategic investors in high-tech, healthcare, logistics, advanced infrastructure, finance, AI, and digital economy sectors. Simultaneously, mechanisms are in place to attract talent (visas, personal income tax), and incentives are provided for R&D and education (leading universities)...

Furthermore, allow Ho Chi Minh City to generate new revenue streams linked to endogenous development. Allow for bold piloting of the sandbox mechanism. Establish a "partnership and co-creation" mechanism in the development of the city and its ecosystem with 20-50 leading global corporations in strategic sectors...

Singapore's experience shows that this mechanism has helped Ho Chi Minh City make a significant leap forward in its position and ability to seize and implement opportunities.

Vietnam's "Institutional Laboratory"

Dr. Nguyen Dinh Cung, former Director of the Central Institute for Economic Management Research, suggested that Ho Chi Minh City needs a genuine "institutional testing sandbox" instead of the special mechanisms and policies like Resolution 98. This would allow the city to experiment with and flexibly adjust development policies, linked to a mechanism for periodic risk assessment and monitoring.

This is to truly transform Ho Chi Minh City into Vietnam's "institutional laboratory," leading national innovation and development.

Specifically, Mr. Cung proposed that at least some provisions should be included, such as clearly defining the areas permitted for testing, and ensuring these areas closely align with fundamental development issues and the strategic development orientation of Ho Chi Minh City. This could be considered limiting the scope of testing.

Next, it is necessary to determine the expected outcomes for the aforementioned test areas. These include short-term results (2-3 years), medium-term results (5-7 years), and long-term results (7-10 years).

He also suggested that the Ho Chi Minh City government could be given full authority to regulate and decide on the methods, tools, and even the organizational structure, as well as the selection and remuneration of personnel involved. All of these could be different from and outside the current legal system.

Furthermore, Ho Chi Minh City has the flexibility to make necessary adjustments and changes if it finds that the current approach is not achieving its objectives. The approach here is very flexible and adaptable in order to achieve the goals.

Meanwhile, Le Hai An, Deputy Director of the Institute for Strategic and Policy Research in Industry and Trade, proposed the need to create a new generation free trade zone model linked to the Can Gio international transshipment port and the Cai Mep Ha area.

Establish a mechanism for a non-tariff strategic investment support fund with flexible implementation capabilities. Develop a 48-hour "fast-track" administrative process accompanied by a liability exemption mechanism for implementing officials.

Mr. Nguyen Trung Chinh, Chairman of the Board of Directors of CMC Group Joint Stock Company, proposed several improvements to Resolution 98. These included expanding the list of priority sectors for attracting strategic investors, suggesting the addition of key technology areas such as data centers, cloud computing, AI, IoT, cybersecurity, and submarine fiber optic infrastructure.

According to Mr. Chinh, additional land incentives are needed to attract strategic investors to the city. Research should be conducted to expand the scope of land acquisition for projects on the priority list for attracting strategic investors, and to simplify land allocation procedures.

Representative HOANG VAN CUONG (Hanoi):

Inspiring a dynamic and creative spirit.

Besides space, Ho Chi Minh City needs its own sky to inspire dynamism, creativity, and a willingness to think outside the box and take risks. However, in Resolution 98 and the current draft, we are essentially tailoring a new, larger garment for the city that may have more panels and sleeves than the rest of the country.

However, will such a system become too tight or unsuitable after many years? Therefore, instead of sewing the clothes, the city should be given the materials such as "fabric, thread, and technology" so that it can sew them itself.

I propose a thorough review of all provisions in the draft amendment to the resolution to identify any remaining restrictions on special mechanisms—in other words, special mechanisms that are still subject to legal compliance—which should be removed immediately.

As the draft outlines, many proposed actions are permitted for the city but must comply with legal regulations. This leads to a situation where permissions must be obtained. Therefore, a review is needed, and if regulations must be followed, they should be clearly stated.

The replacement resolution should be drafted in the spirit of setting out principles, regulations, rules, requirements, etc. Then, it should be left to Ho Chi Minh City to determine them based on these principles, rather than simply listing them.

It is also possible to study the possibility of giving Ho Chi Minh City the ability to create new institutions to serve as a model for the whole country to follow. In fact, many years ago, Ho Chi Minh City did this very well.

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FINAL

Source: https://tuoitre.vn/dua-tp-hcm-tro-thanh-sieu-do-thi-sang-tao-2025113007213361.htm