NA Chairman appeals for more opinions to turn HCMC into IFC

National Assembly Chairman Vuong Dinh Hue called for further comments to promulgate mechanisms and pilot policies to turn Ho Chi Minh City into an international finance center.

Chairman Vuong Dinh Hue speaks at the session

Chairman Vuong Dinh Hue speaks at the session

Chairman Vuong Dinh Hue made the appeal when he spoke at the opening session of the 23rd session of the Standing Committee of the National Assembly which is slated to open on May 9 and close on May 12 in Hanoi. The Standing Committee of the National Assembly will consider and give opinions on 13 major issues expected to be submitted to the National Assembly for consideration. The National Assembly will announce its decision at the fifth session.

Notably, for consideration on the draft resolution of the National Assembly on piloting several specific mechanisms and policies for the development of Ho Chi Minh City, the National Assembly Chairman said that at the fourth session, the National Assembly made a resolution to extend the application period of Resolution 54 on specific mechanisms and policies for HCMC until the end of 2023; at the same time, the Government was assigned to submit to the National Assembly a new resolution for Ho Chi Minh City as soon as possible.

The Standing Committee of the National Assembly and the Government will submit to the National Assembly for consideration and decision on a new resolution to replace Resolution 54 right at the fifth session, which will be earlier than the expiration date of Resolution 54. Since Ho Chi Minh City is the engine of the country’s economy; currently, the socio-economic recovery and development, especially institutions and policies in different regions, are very important, said the National Assembly Chairman.

According to the National Assembly Chairman, the Government has prepared very carefully this time. The National Assembly Party Committee had two working sessions with the Standing Board of the Ho Chi Minh City Party Committee in March 2022 and on May 7 to comment on the draft. It is expected that there are 8 groups of policies related to 44 mechanisms submitted by the Government, of which 27 are new policies and 6 specific policies are expected to be included in bills submitted to the National Assembly for Ho Chi Minh City to implement in advance.

More comments are needed to issue pilot mechanisms and policies to convert the southern metropolis into an international financial center. So far, there has been no specific policy to include in this draft resolution; thus, it is necessary to continue to assign the National Assembly and Government agencies to coordinate with Ho Chi Minh City to study and develop in the coming time, the National Assembly Chairman said.

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