'Leverage' from special policies
Resolution No. 226/2025/QH15 replaces Resolution No. 35/2021/QH15 of the National Assembly . Previously, within just 3 years of implementation, Resolution No. 35/2021/QH15 contributed to creating favorable conditions for Hai Phong to achieve impressive results in many fields. The pilot policies contributed to supplementing important resources for infrastructure development investment, increasing income for cadres, civil servants, and public employees, while reforming administrative procedures in the fields of land, planning, construction, etc.
Specifically, the city was allocated a reward for excess revenue by the Central Government under a special mechanism with a total amount of up to thousands of billions of VND. From there, Hai Phong added more than 2,600 billion VND of public investment capital, more than 70 billion VND of entrusted capital through the City Social Policy Bank Branch to lend to create jobs.
However, in the new context, to realize the double-digit growth target in the 2026 - 2030 period, contributing to the implementation of the goals and targets of Resolution No. 45 of the Politburo on the construction and development of Hai Phong city to 2030, with a vision to 2045, the city needs a policy framework with a breakthrough and higher international competitiveness. The National Assembly's approval of the new financial and budgetary policy this time is considered a highlight, creating an important institutional foundation to help Hai Phong develop sustainably.
One of the breakthrough contents of the budgetary financial policy is to allow the city to borrow through the issuance of local government bonds, borrowing from domestic and foreign financial institutions, with the outstanding debt not exceeding 120% of the city's budget revenue according to decentralization.
In particular, the central budget will target Hai Phong to supplement 70% of the increased revenue from import and export activities (excluding value added tax). This is considered a "revenue bonus" with great financial significance, while also encouraging the city to actively increase budget revenue and contribute more to the central budget. This abundant financial resource creates favorable conditions for the city to invest heavily in infrastructure of economic zones, industrial parks, and Bach Long Vi island, promoting green growth and sustainable development.
In addition, the resolution also allows the city to pilot a financial mechanism in implementing measures to reduce greenhouse gas emissions, through the carbon credit exchange and offset mechanism. Carbon credits generated from public investment programs and projects are allowed to be traded with domestic and international investors. Revenue from carbon credit transactions is 100% of the city budget and is not included in the local budget balance. The city has the right to decide to use this revenue for programs to respond to climate change, develop the green economy, digital economy and circular economy.
According to Mr. Nguyen Ngoc Tu, Director of the Department of Finance, these are fundamental and breakthrough financial mechanisms, helping the city remove current "bottlenecks", creating a boost for comprehensive, strong and sustainable socio-economic development in the coming period.
Expectation of breakthrough
The report on the implementation of 7-month tasks and key tasks in August 2025 of the City Party Committee shows that after the merger of Hai Duong province with Hai Phong city, all levels and sectors have actively promoted solutions to develop the economy and increase budget revenue. In the first 7 months of 2025, the total state budget revenue in the area reached 116,724 billion VND, completing 79.2% of the central budget estimate and exceeding 31.5% over the same period. Of which, domestic revenue reached 66,407 billion VND (equal to 140% of the same period); import-export revenue reached 48,745 billion VND (up 27.1%). These results show that the city's finances are growing steadily, which is an important foundation for effectively implementing specific policies in the coming time.
Targeted supplementary policy for the city budget equal to 70% of the increase in central budget revenue help the city have more motivation to strive to increase budget revenue. Thereby increasing development resources, meeting the needs of investment in socio-economic development of the city according to the goals set out in Resolution No. 45 of the Politburo.
Mr. Nguyen Trac Thang, Chairman of the Hai Duong Small and Medium Enterprises Association, commented that the special policy is a "golden opportunity" for Hai Phong to promote its existing potential, attract investment, and grow the economy. According to Mr. Thang, using revenue from carbon credits, the mechanism of rewarding excess revenue, or allowing the city to borrow flexibly helps the locality have more room to invest in essential areas such as transport infrastructure, education, health care and green development - strategic factors in the journey of sustainable development. However, for the policy to be truly effective, it requires the support and strong determination of the local government, businesses and people.
Resolution No. 226/2025/QH15 is not only a legal document but also a strategic tool, helping Hai Phong to maximize its competitive advantages and play a leading role in regional and national development strategies. Overall, this financial policy is expected to create a boost in both the scale and quality of investment resources, contributing to realizing the goal of making Hai Phong a leading modern industrial and service center in the North and a growth pole of the whole country.
HA VYSource: https://baohaiphong.vn/khoi-thong-nguon-luc-but-pha-tuong-lai-518764.html
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