Of which, the Government set Ho Chi Minh City's 2025 growth target at 8.5 percent and above.
In addition, the medium-term public investment plan for the 2026-2030 period and the long-term public investment plan for the 2030-2035 period prioritize aggregate supply policies, including business development, improvement of investment and business environment, and innovation, which are key factors.
At the working session with the Commission for Policies and Strategies and ministries and agencies on February 24, Party General Secretary To Lam directed the implementation of demand and supply measures to accelerate economic growth.
Regarding demand-side measures, he noted that the Government should increase investment in strategic infrastructure and enhance private sector investment by fostering a transparent, secure, and low-cost business environment. As for supply, one of the solutions is an examination to issue land and real estate policies to help increase transactions, attract capital, and boost urban areas to become growth engines for the country.
The Party Chief pointed to the need to strongly accelerate institutional reforms and improve the business environment, reduce administrative processing times, and cut business costs by at least 30 percent, remove at least 30 percent of unnecessary business conditions.
With a spirit of responsibility, the courage to think and act, and a proactive approach to innovation, in order to fully implement the principles outlined by the Party General Secretary, Ho Chi Minh City and the Southern and Southeast regions need to connect from the inner city (including the central area of Ho Chi Minh City, Thu Duc City, Binh Duong, and Dong Nai provinces) to the outside of the city linked with Long An Province and logistics routes, seaports.
He emphasized the enhancement of the private economic sector to mobilize all resources, especially from society, effective application of Resolution No.57-NQ/TW dated December 22, 2024, by the Politburo on breakthroughs in science and technology development, innovation, and national digital transformation, and implementation of key projects to drive socio-economic development.
It needs to invest in and develop Thu Duc City in Ho Chi Minh City and the Southern region, connecting with transportation and urban infrastructure in neighboring areas including Binh Duong, Dong Nai, and Long An provinces; invest in and develop strategic industries associated with the formation of leading business clubs; and establish free trade zones (FTZs) in the Southeast region linked with the project to build an International Financial Center in Ho Chi Minh City.
The solution groups must include reward and punishment mechanisms for public investment, linking Vietnamese enterprises to public investment projects to enhance the endogenous capacity of domestic businesses, giving priority to accelerate the resolution of outstanding real estate projects, and issuing policies to ensure long-term stability in this market.
The implementation plan must be closely aligned with institutions and human resources to accompany the provision of information and data and the development of draft laws and policies. Specifically, it is necessary to boldly apply a controlled experimental legal framework for new technology sectors; implement special tax incentives for technology; and apply open financial policies for international financial center models, tax-free shopping center models, policies to attract talent, and special policies for skilled officials and civil servants.
