The Party Central Committee's Commission for Policies and Strategies in collaboration with the Party Committee, People's Council, and People's Committee of Ho Chi Minh City, organized a seminar titled "Special mechanisms and policies to attract investment and strategic investors into Ho Chi Minh City in the new situation" on November 27.
In his opening remarks, Mr. Nguyen Thanh Nghi, Member of the Central Party Committee and Chairman of the Commission for Policy and Strategy emphasized the special role of HCM City in Vietnam's economy, aiming to become a mega-city and a regional hub for finance, production, logistics, and innovation.
According to Mr. Nghi, Resolution No. 98/2023/QH15 has brought positive changes but has not fully resolved structural bottlenecks, especially in attracting strategic investors. To elevate the city to the level of major global cities, new, stronger, and more comprehensive mechanisms and policies are needed. International experience shows that successful mega-cities have special mechanisms, superior incentives, strong decentralization, modern public finance, and smart urban governance.
Through two sessions of presentations and discussions, experts and delegates at the seminar agreed on five key points.
First, Ho Chi Minh City is the country’s economic locomotive but is under pressure to renew its growth model and mobilize substantial resources for sustainable development.
Second, strategic investors play a pivotal role and must be selected based on clear criteria, with strong long-term partnership commitments.
Third, the city needs to expand priority sectors and diversify investment channels to align with its key growth pillars.
Fourth, Ho Chi Minh City requires breakthrough, internationally competitive mechanisms and policies.
Fifth, Resolution 98 should be revised to significantly increase the city’s decentralization and decision-making authority.
Chairman of the City People's Committee, Nguyen Van Duoc, said that the city is entering a new phase of development, however, the two biggest bottlenecks today are institutions and capital.
Resolution No. 98/2023/QH15 has opened up a special mechanism for city to make a breakthrough in development. However, after more than two years of implementation, the content on strategic investors still has many shortcomings and prevented the city from attracting any strategic investors within the framework of the Resolution.
"We hope that this revision will clarify the issue so that both the central government and Ho Chi Minh City have a unified understanding and application," Mr. Duoc said.
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