The government has proposed creating a National Assembly (NA) resolution on piloting certain special mechanisms and policies to develop Ho Chi Minh City.

It asked the NA to include such a resolution in its law and ordinance building program in 2023.

Specific policies for Ho Chi Minh City would include matters such as investment management; finance and State budget; urban management and environmental resources; prioritized industries and sectors attracting strategic investors to the city; the management of science and technology and innovation; and the organization of the government apparatus in Ho Chi Minh City and its Thu Duc city.

The southern city is expected to post annual growth of 8-8.5 per cent and per capita gross regional domestic product (GRDP) of about $14,500, and contribute 40 per cent of Vietnam’s GDP by 2030, under Politburo Resolution No. 31-NQ/TW outlining goals and tasks for the development of the city to 2030 and long-term vision to 2045.

By 2045, the city is to have become comparable to major cities around the globe, an economic, financial, and service center of Asia, the nucleus of the Ho Chi Minh City region and the southern region, a growth engine of Vietnam, and a magnet for international financial institutions and enterprises.