Hai Phong will make a breakthrough in development with a new special mechanism.

The Draft Resolution replacing Resolution No. 35/2021/QH15 is considered an important step forward for Hai Phong to realize its goal of becoming a center for marine economy , logistics, and innovation, playing a driving role for the Red River Delta and the whole country. The specific mechanisms on investment, finance, land, science and technology, and the Free Trade Zone proposed by the Government, along with close scrutiny notes from the Economic and Financial Committee, have laid the foundation for a comprehensive, feasible, and breakthrough legal framework. With consensus and close supervision from the National Assembly, Hai Phong is facing the opportunity to make a breakthrough, develop sustainably, and affirm its position in the region and internationally.

Outstanding mechanism to accelerate socio-economic development

Minister of Finance Nguyen Van Thang said that the Government has drafted a Resolution to replace Resolution No. 35/2021/QH15 to concretize the Politburo's policy in Conclusion No. 96-KL/TW, continuing to implement Resolution No. 45-NQ/TW on Hai Phong's development to 2030, with a vision to 2045. The Government believes that Hai Phong, with its prime geo-economic and political position, is the largest port city in the North, a diverse traffic hub and a gateway to the sea of ​​the capital Hanoi, playing a key growth role in the economic triangle of Hanoi - Hai Phong - Quang Ninh. However, Hai Phong's role and contribution are not commensurate with its potential, its economic scale is still limited, its revenue is not sustainable, its infrastructure is not synchronous, and its innovation activities have not created breakthroughs. Therefore, it is necessary to issue a new resolution with outstanding specific mechanisms to clear bottlenecks, attract investment, and promote sustainable socio-economic development.

Minister of Finance Nguyen Van Thang

The Government proposed 41 specific policies in 6 main groups, including investment management, finance, budget; planning; land; science and technology; staff income; and establishment of the Trade Zone. Regarding investment management, the Government said it would decentralize the authority to approve investment policies for new port and port area projects with capital of VND2,300 billion or more, and to manage and maintain national inland waterways, in order to increase initiative and shorten administrative procedures.

Regarding finance and budget, the Government proposed to increase the outstanding loan balance to 120% of the city's budget revenue, add 70% of the increased revenue from import and export to invest in infrastructure, and pilot new fee and charge policies, creating resources for developing socio-economic infrastructure.

In land management, the Government emphasizes new policies such as land acquisition for logistics centers and services, land lease without auction for logistics projects, and land acquisition in residential areas for auction, to meet urbanization needs and increase budget revenue. In science and technology, the Government proposes to exempt corporate and personal income tax for 5 years for innovative startups, support incubation costs, and establish a Venture Capital Fund to promote high technology, semiconductors, and artificial intelligence.

In particular, the establishment of the Hai Phong Free Trade Zone is considered by the Government as a new driving force, with 17 preferential policies on land, tax, administrative procedures, and foreign exchange transactions, to attract investment in high technology, finance, and international services.

The Government affirmed that these policies are consistent with the 2013 Constitution, Politburo resolutions, and international commitments; at the same time, they ensure strong decentralization, increasing autonomy and responsibility of the city government. The draft also stipulates a 5-year pilot period for general policies and 10 years for the Trade Zone, with a transitional mechanism to protect investors’ interests after the pilot period ends.

Ensure feasibility and monitoring

Chairman of the Economic and Financial Committee Phan Van Mai agreed to issue a Resolution replacing Resolution No. 35/2021/QH15, assessing that the draft dossier has sufficient political, legal, and practical basis to submit to the National Assembly at the 9th Session. However, the Economic and Financial Committee noted that it is necessary to carefully study the impact of policies in the context of administrative boundary merger, ensuring consistency with the Politburo's policy on transitioning to a specific mechanism after the apparatus rearrangement. The Committee proposed to develop corresponding policies to promote the advantages of Hai Phong's geographical, economic, cultural, and social location, especially in the case of boundary expansion.

Chairman of the Economic and Financial Committee Phan Van Mai

Regarding investment management, the Economic and Financial Committee agreed to decentralize the authority to approve the investment policy of the port project from VND 2,300 billion and manage inland waterways to the City People's Committee, but proposed to add regulations on the responsibility regime so that authority goes hand in hand with responsibility, while ensuring the conditions according to Circular No. 33/2023/TT-BGTVT. Regarding land management, the Committee agreed to recover interspersed land and logistics centers, but requested to clarify the basis for differences compared to Resolution No. 136/2024/QH15 applicable to Da Nang, supplement criteria, conditions, and responsibilities to avoid taking advantage of policies, reduce complaints, and create consensus. The Committee also emphasized the need to ensure that the conversion of rice land and production forests does not affect national planning on food security and forest protection.

Regarding science and technology, the Economic and Financial Committee supports tax exemption for innovative start-up activities, but proposes to add regulations on paying taxes according to the global minimum tax for businesses subject to application, and consider exempting officials from liability for using Venture Capital Funds to avoid abuse.

Regarding the Trade Zone, the Committee highly appreciates the determination of the Government and the City, but requests clarification of the economic and social impacts, risk management mechanisms, and supervision to ensure economic and financial security, and social order. The Committee also recommends specific regulations on the management of goods transit, foreign exchange transactions, and “one-stop” administrative procedures to increase transparency, feasibility, and strictly control acts of taking advantage of policies.

The Economic and Financial Committee emphasized the importance of close supervision in the implementation of the Resolution, especially with new policies such as the Trade Zone and tax incentives. The Committee proposed that the Government and the City People's Council periodically report to the National Assembly on the implementation progress, with a preliminary review in 2028 and a final review in 2030, ensuring that policies are implemented openly, transparently and effectively, without loss or profiteering.

Source: https://thoibaonganhang.vn/hai-phong-se-dot-pha-phat-trien-voi-co-che-dac-thu-moi-164074.html