The session focused on the pilot application of special mechanisms and policies for Ho Chi Minh City’s development, the disbursement of public investment capital, and the proposal to establish a Free Trade Zone (FTZ).
Regarding Resolution 98, Nguyen Van Loi, Member of the Party Central Committee and Head of the Ho Chi Minh City Delegation of National Assembly Deputies, emphasized that following the recent administrative merger and in light of the city's current development situation, Ho Chi Minh City urgently needs a new, appropriate governance framework and policy mechanism.
He noted that some opinions have suggested upgrading Resolution 98 to ensure stronger, more tailored policies for the city, a move that could potentially save time while still providing the necessary flexibility and advantages for Ho Chi Minh City’s unique development needs.
According to Mr. Nguyen Van Loi, the realities facing Ho Chi Minh City after the administrative merger call for an “enhanced Resolution 98” that ensures greater autonomy and exceptional mechanisms tailored to the city’s unique needs.
He stressed that in order to drive broader development, the city must be able to overcome existing regulatory “barriers” and demonstrate its trademark spirit of innovation.
He stressed that an “enhanced Resolution 98” must go beyond addressing isolated or short-term issues. Instead, it should establish a comprehensive institutional framework that integrates the city’s key development factors.
To build an “enhanced Resolution 98,” the Government could engage expert consultants and gather input from scientists, turning practical, on-the-ground challenges into structured, forward-looking policy with high levels of abstraction and foresight. The new mechanism must be capable of mobilizing diverse resources for the growth of Ho Chi Minh City, particularly by unlocking social capital.
The goal of upgrading Resolution 98 is to resolve structural bottlenecks that stem from outdated or non-enabling regulations. If the local authorities can do that, achieving double-digit growth for the city is no longer out of reach, Mr. Nguyen Van Loi added.
 "Director of the Ho Chi Minh City Department of Finance, Nguyen Cong Vinh, speaks at the event. (Photo: SGGP)")
Another key topic that drew significant attention during the hearing was the proposal to establish Free Trade Zones (FTZs) in Ho Chi Minh City.
Director of the Ho Chi Minh City Department of Finance, Nguyen Cong Vinh, stated that four FTZs have already been approved by the Prime Minister (formerly within Ho Chi Minh City). However, following recent administrative mergers, both the city's economic scale and territorial boundaries have significantly changed. As a result, a comprehensive reassessment, including field surveys, evaluations, and updated policy approaches, is now required. Broader consultation and fresh perspectives are also deemed essential.
Addressing these concerns, Mr. Nguyen Van Loi called on advisory agencies to conduct in-depth studies and deliver clear, well-founded reports. He urged them to embrace a spirit of innovation and bold thinking, in line with the city’s broader development goals.
