Institutions pave the way.

After more than two years of implementing Resolution 98 on piloting some specific mechanisms and policies for the development of Ho Chi Minh City, the city has demonstrated its breakthrough capacity, pioneering spirit, and responsibility "for the whole country, together with the whole country". In 2025 alone, the city's estimated budget revenue is expected to reach approximately 750,000 billion VND, making it one of only six localities nationwide that are self-sufficient and contribute to the central government budget. Notably, Ho Chi Minh City contributes about one-third of the total national budget revenue and over 23% of the country's GDP.

However, in this new development space, this pioneering spirit is being limited by a legal framework that has not kept pace with the practical context. Analyses by many National Assembly representatives, experts, and from the practical experience of Ho Chi Minh City's development in this new context all agree on one point: the city has developed faster than the capacity of existing mechanisms and policies can accommodate.

Therefore, reviewing and amending Resolution 98 carries a historical mission. It's not just about removing obstacles for the city, but also about creating a legal framework commensurate with a special administrative and economic entity after restructuring, suitable to its position as a leading economic center of the country and its role as a "testing ground for institutional reform" in the nation.

Throughout its development journey, the city's aspiration for breakthrough development for the whole country, together with the whole country, has always been clearly affirmed. Most recently, the Resolution of the First Congress of the Ho Chi Minh City Party Committee set development targets for the period 2025-2030, such as: an average growth rate of 10%-11% per year; total investment capital averaging 35%-40% of GRDP over 5 years...

However, despite setting a budget revenue target of approximately 804,000 billion VND for 2026, the city is only allocated 144,000 billion VND for development investment, which is very low compared to the investment needs (from 700,000 to 800,000 billion VND). This huge disparity, without superior mechanisms and policies to unlock socialized resources, will prevent the city from solving urgent problems related to infrastructure, environment, and transportation, and will diminish its ability to contribute to the national economy.

In the proposal to amend and supplement Resolution 98, the Government clearly stated that, in order to achieve double-digit growth by 2026, Ho Chi Minh City must be granted superior and groundbreaking mechanisms, paving the way for private resources and strategic investors to participate, especially in investing in key infrastructure projects in transportation, urban development, healthcare, education , etc.

Therefore, many strong proposals were put forward in the draft resolution, such as perfecting the mechanism for the Transport-Oriented Development (TOD) model, with the expansion of authority to adjust planning indicators and, especially, a mechanism to retain 100% of revenue from TOD land funds for investment in urban railways and connecting transport routes. Another important highlight is the proposal to establish the Ho Chi Minh City Free Trade Zone - a model with a high degree of decentralization, creating new growth poles and enhancing Ho Chi Minh City's position in the competitive value chain in the region and globally.

The urgent needs of Ho Chi Minh City have been clearly identified and must be addressed promptly and without delay, so that every day of delay does not mean the city loses opportunities for development, as General Secretary To Lam emphasized in his directive speech at the First Congress of the Ho Chi Minh City Party Committee.

However, creating new institutions is only the first step; what is more important is that these superior mechanisms are implemented seriously, effectively, and without delays due to familiar excuses such as "waiting for guidance," "lack of regulations," etc. Therefore, along with upgrading the mechanisms, the "new Resolution 98," when passed, should also clearly define the responsibilities of each relevant ministry and sector in its implementation. Conversely, Ho Chi Minh City must strongly reform its apparatus, improve implementation discipline, and implement new policies and mechanisms with a spirit of daring to act, daring to take responsibility, and proactively explaining itself to the Government and the National Assembly.

The National Assembly's discussion session on December 8th is therefore of great importance in deciding the pioneering institutions for Ho Chi Minh City to continue serving the whole country, joining the whole country in entering a new phase of development with breakthrough thinking and decisive action.

KIEU PHONG

Source: https://www.sggp.org.vn/the-che-mo-duong-post827423.html