Law on Special Urban Areas: A Solid Launchpad

In fact, over the past period, Ho Chi Minh City has always maintained its leading position and played a very important role in the socio -economic development of the country. For the city to enter a new phase of development, breakthrough institutional changes are needed, and the Urban Planning Law is especially essential.

The draft Law on Special Urban Areas expands the authority granted to cities to pilot and develop new service models such as: International Financial Centers; shopping malls, outlet centers and modern commercial spaces; integrated logistics zones; international exhibition centers; integrated service-commercial-entertainment complexes; digital infrastructure, data centers, shared digital platforms and other new service models in line with international development trends.

From a business perspective, the regulations in the draft Law on Special Urban Areas need mechanisms to facilitate access to capital for not only large enterprises but also small and medium-sized enterprises (SMEs) through the International Financial Center currently being implemented in Ho Chi Minh City, thereby reducing dependence on bank credit. Specifically, businesses propose studying mechanisms that allow the city to be more proactive in accessing and mobilizing foreign loans in accordance with the law to invest in large-scale strategic infrastructure, transportation infrastructure, and digital infrastructure projects.

It is necessary to supplement specific mechanisms and policies to support the effective exploitation of riverside economic spaces, the development of the night-time economy, service economy, tourism , and new economic models suitable to Ho Chi Minh City's special urban role. Research should be conducted on mechanisms to support domestic enterprises; enterprises in supporting industries and innovation; and small and medium-sized enterprises participating in infrastructure, logistics, green transformation, eco-industry, and supply chain projects of the city.

In the context of a rapidly developing digital economy and innovation, special urban areas need to become pioneering spaces for testing new governance models, technologies, and policies. The inclusion of a controlled testing mechanism (sandbox) in the draft Law on Special Urban Areas is an important step, creating favorable conditions for businesses to develop new business models.

For the sandbox mechanism to be truly effective, a clear legal framework is needed for businesses to comply with the approved testing regulations. Businesses participating in the sandbox must invest heavily in technology, infrastructure, and operations. Therefore, policy changes or a lack of appropriate transition mechanisms will increase risks and reduce the incentive for innovation. The law needs to include transparent transition mechanisms, clearly define legal responsibilities, and provide a roadmap for perfecting the legal framework for models that have proven effective in practice.

In particular, there is a need for mechanisms to protect officials and agencies implementing pilot models during the deployment process, in order to reduce the fear of making mistakes in the performance of their duties.

Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Business Association (HUBA)

(Source: NLDO)

Source: https://baogialai.com.vn/luat-do-thi-dac-biet-be-phong-vung-chac-post588402.html