With the expansion of special mechanisms under the amended Resolution 98, HCMC is set to gain new growth drivers to attract investment and accelerate the rollout of major infrastructure projects as it enters the next phase of its development On December 11, the National Assembly passed a resolution amending and supplementing several provisions of Resolution 98/2023, which establishes special mechanisms and policies to develop HCMC. Experts say the revised resolution gives the city fresh momentum for faster growth. The changes introduce more advanced policy tools and a more flexible institutional framework, granting HCMC greater autonomy in investment decisions, urban planning, and the development of new growth models. Transit-oriented development (TOD) model Under the resolution, the city will be allowed to retain all revenues generated from land use in transit-oriented development (TOD) areas, with the proceeds reinvested primarily in urban rail projects and transport infrastructure along TOD corridors. The mechanism will also apply to areas surrounding railway stations, train depots, and maintenance facilities, as well as adjacent zones around transport interchanges along the Beltway No. 3 corridor. Moreover, the city will be permitted to use its local budget to implement separate investment projects for compensation, support and resettlement in transport, urban […]