After more than 2 years of implementing Resolution 98 on piloting a number of specific mechanisms and policies for the development of Ho Chi Minh City, the city has demonstrated its breakthrough capacity along with its pioneering spirit and responsibility "for the whole country, with the whole country". In 2025 alone, the city's estimated budget revenue will reach about 750,000 billion VND, making it one of 6 localities nationwide that are autonomous and regulated by the central budget. In particular, Ho Chi Minh City contributes about 1/3 of the total national budget revenue and more than 23% of the country's GDP.
However, in the new development space, that pioneering is being limited by the legal framework that has not kept up with the practical context. Analysis by many National Assembly deputies, experts and from the development practice of Ho Chi Minh City in the new context, all have the same opinion: the city has developed faster than the response capacity of current mechanisms and policies.
Therefore, the review and amendment of Resolution 98 has a historic mission. It is not only to remove obstacles for the city, but also to create a legal framework commensurate with a special administrative- economic entity after the arrangement, in accordance with the position of the leading economic center of the country and the role of "institutional experiment" of the country.
Throughout the development journey, the city's aspiration for breakthrough development for the whole country and with the whole country has always been clearly affirmed. Most recently, the Resolution of the 1st Ho Chi Minh City Party Congress determined development targets for the period 2025-2030, such as: average growth rate of 10%-11%/year; average total investment capital for 5 years accounts for 35%-40% of GRDP...
However, despite the 2026 budget revenue target of about VND804,000 billion, the city has only been allocated an estimated development investment expenditure of VND144,000 billion, which is very low compared to the investment demand (from VND700,000 to VND800,000 billion). This huge difference, without outstanding mechanisms and policies to unlock socialized resources, the city cannot solve urgent problems of infrastructure, environment, and transportation and will reduce its ability to contribute to the country.
In the Proposal to amend and supplement Resolution 98, the Government stated that in order to achieve the double-digit growth target by 2026, Ho Chi Minh City must be given an outstanding and breakthrough mechanism, opening the way for private resources and strategic investors to participate, especially investing in key infrastructure projects in transportation, urban areas, health care, education , etc.
Many strong proposals were therefore put forward in the draft resolution, such as perfecting the mechanism for the urban development model oriented towards public transport (TOD), with the expansion of authority to adjust planning indicators and especially the mechanism to retain 100% of revenue from TOD land fund to invest in urban railways and connecting traffic routes. Another important highlight is the proposal to establish the Ho Chi Minh City Free Trade Zone - a model with a high level of decentralization, creating a new growth pole and raising the position of Ho Chi Minh City in the competitive value chain in the region and globally.
The urgent needs of Ho Chi Minh City have been clearly identified and need to be considered and resolved promptly and cannot be delayed, so as not to fall into a situation where every day of delay means the city loses more opportunities to develop, as General Secretary To Lam emphasized when giving a directive speech at the 1st Ho Chi Minh City Party Congress.
However, creating new institutions is only the first step. What is more important is that these superior mechanisms are implemented seriously, effectively and without delay for familiar reasons such as "waiting for instructions", "no regulations yet"... Therefore, along with upgrading the mechanism, "New Resolution 98" when passed should also have content clearly defining the responsibilities of each relevant ministry and branch in participating in the implementation. On the contrary, Ho Chi Minh City must strongly reform the apparatus, improve enforcement discipline, implement new policy mechanisms with the spirit of daring to do, daring to take responsibility and proactively explaining to the Government and the National Assembly.
The National Assembly's discussion session on December 8 is therefore very important in deciding on a pioneering institution for Ho Chi Minh City to continue working for the whole country, and together with the whole country, enter a new stage of development with breakthrough thinking and decisive action.
Source: https://www.sggp.org.vn/the-che-mo-duong-post827423.html
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