Continuing the agenda of the 10th Session, on the morning of December 11th, with 433 out of 438 delegates participating in the vote, the National Assembly passed a Resolution amending and supplementing a number of articles of Resolution No. 98 on piloting some specific mechanisms and policies for the development of Ho Chi Minh City.
This resolution stipulates the piloting of several specific mechanisms and policies for the development of Ho Chi Minh City regarding investment management; finance and state budget; urban management, resources, and environment; priority list for attracting strategic investors; establishment and operation of the Ho Chi Minh City Free Trade Zone; management of science and technology and innovation; and the organizational structure of the city government.
National Assembly delegates at Dien Hong Hall on the morning of December 11.
According to the Resolution, the Ho Chi Minh City Free Trade Zone is a geographically defined area established to pilot superior, groundbreaking mechanisms and policies aimed at attracting high-quality investment, finance, trade, and services to promote exports, industry, research and development (R&D), and high-quality human resources.
Free trade zones are organized into functional areas including: production zones, port and port logistics zones, logistics centers, trade and service zones, and other types of functional zones as prescribed by law.
The Ho Chi Minh City People's Council has the authority to decide on the procedures for establishing and expanding the boundaries of free trade zones. Meanwhile, the City People's Committee has the power to decide on these matters regarding free trade zones associated with the Cai Mep Ha seaport area. The Management Board of Export Processing Zones and Industrial Parks is the unit directly managing the free trade zone.
Projects in Ho Chi Minh City's free trade zones (excluding commercial housing) are exempt from land auctions and tenders, aiming to accelerate investment attraction and infrastructure development. This mechanism is not yet included in the Land Law for production and business projects.
Businesses undertaking projects in this area are also entitled to register their investments under special procedures. They receive a 50% reduction in income tax (to 10%) for 20 years, including a tax exemption for the first 4 years and a further 50% reduction for the following 9 years. Highly skilled workers, experts, and scientists also receive a 50% reduction in personal income tax for 10 years.
In addition, businesses are allowed to list, price, and settle transactions in foreign currency. This is also a new feature compared to the usual foreign exchange management regulations.
In the Resolution, the National Assembly also authorized the People's Committee of Ho Chi Minh City to decide on investment in construction combined with housing construction, commercial and service construction, public works construction, and public works at railway stations, train maintenance and repair depots, and areas adjacent to traffic junctions along the Ring Road 3 designated for development under the TOD model.
The People's Committee of Ho Chi Minh City may decide on economic and technical indicators and land use indicators for planning that differ from the regulations in the national technical standards on urban and rural planning, but must ensure compliance with technical infrastructure, social infrastructure, and environmental safety regulations for residential areas.
Regarding planning, the resolution stipulates that Ho Chi Minh City will only have one overall city plan, based on the concretization of national-level and regional planning contents, and the integration and incorporation of provincial and city master plans.
The approved city master plan replaces the provincial plan and the city general plan. The city master plan has the same legal validity as the provincial plan according to planning regulations and the city general plan according to urban and rural planning regulations.
This approved plan serves as the basis for the preparation, appraisal, and approval of urban and rural plans, and as the basis for assessing the project's suitability according to regulations. The People's Committee of Ho Chi Minh City approves the city's master plan and adjusts the master plan after it is approved by the People's Council of Ho Chi Minh City...
Based on the overall master plan of Ho Chi Minh City, the City People's Council decides on the list of urban and rural planning projects to be simultaneously prepared as zoning plans and detailed plans. If the detailed plan is prepared and appraised first, it will be approved first and updated into the zoning plan.
11 priority project groups to attract strategic investors.
A key element in the Resolution recently passed by the National Assembly is the list of priority projects and policies for attracting strategic investors. The resolution adds 11 priority project groups for attracting strategic investors.
This includes a group of investment projects for the construction and operation of integrated entertainment and resort complexes, comprising accommodation services for tourists meeting at least 5-star standards, high-end resort services, and comprehensive shopping and entertainment services along the Saigon River, Dong Nai River, and coastal corridors, aiming to create momentum for socio-economic development with an investment capital of 30,000 billion VND or more.
Investment projects for specialized medical clusters, sports complexes, cultural parks, or themed parks with an investment capital of 6,000 billion VND or more.
Projects for renovating and relocating houses on rivers, houses along rivers, houses on canals, and houses along canals have an investment capital of 6,000 billion VND or more.
Infrastructure investment projects in the free trade zone include: port investment with a capital scale of VND 75,000 billion or more; logistics center investment with a capital scale of VND 25,000 billion or more; industrial, urban, and service functional areas investment with a capital scale of VND 20,000 billion or more...
Source: https://vtcnews.vn/tp-hcm-duoc-lap-khu-thuong-mai-tu-do-ar992348.html
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