HCMC – HCMC chairman Nguyen Van Duoc today, November 27, called for revisions to Resolution 98 to give the city broader authority to attract strategic investors and support long-term growth.
Duoc made the remarks at a policy conference in Hanoi co-organized by the HCMC Party Committee, the Hanoi City government, and the Central Policy and Strategy Commission. The event took place as the National Assembly is looking into proposed amendments to Resolution 98/2023/QH15, which provides special policies and mechanisms for HCMC’s development.
Nguyen Thanh Nghi, head of the Central Policy and Strategy Commission, said HCMC remains a key growth driver for Vietnam, contributing more than 23% of the nation’s GDP. He added that the city plays a central role in industry, trade, services, seaports, and international integration.
Nghi said Resolution 98 has helped the city recover economically but has not fully addressed structural bottlenecks, especially in attracting strategic investors. He said new policies under the proposed amendments could give the city more tools to remove these barriers.
According to Nghi, the commission expects the conference to generate proposals to support HCMC’s goal of becoming an international center for finance, commerce, logistics, and innovation. He said the amendments align with long-term national development plans.
Duoc said HCMC has worked with the Ministry of Finance and other central agencies to draft the revised resolution, which is now under review by the National Assembly Standing Committee. He said the city hopes the National Assembly will approve the changes at its ongoing session.
He outlined three issues for discussion at the conference.
First, Duoc said the role of strategic investors should be defined as development partners rather than investors in isolated projects. He said the city needs investors with technology, management capabilities, global market networks, and the ability to transfer knowledge.
Second, he called for an expanded list of priority sectors for strategic investment. These include supporting industries, logistics, seaports, tourism, urban redevelopment, and technology fields such as data centers, cloud computing, and digital platforms for smart-city development.
Third, he proposed a unified policy framework covering planning approvals, project approvals, and investor selection. He said the policies should be flexible, sector-specific, and aligned with international practices, with differentiated incentives for various types of projects. He also stressed the need for policy stability, consistent implementation, and transparency.
Duoc said the amendments aim to give HCMC a stronger policy framework to meet expectations by the central Government and support the city’s development goals.
