Politics

Specific mechanisms, policies for HCM City’s development under NA’s consideration

A proposal and a verification report on the National Assembly’s draft resolution on some specific mechanisms and policies for the development of Ho Chi Minh City were scrutinised during the ongoing fifth meeting of the 15th legislature on May 26 morning.
Specific mechanisms, policies for HCM City’s development under NA’s consideration ảnh 1At the NA's working session. (Photo: VNA)
Hanoi (VNA) - A proposal and a verificationreport on the National Assembly’s draft resolution on some specific mechanismsand policies for the development of Ho Chi Minh City were scrutinised duringthe ongoing fifth meeting of the 15th legislature on May 26 morning.

Minister of Planning and Investment Nguyen Chi Dung,who presented the proposal, noted that the draft resolution is intended tocreate a legal framework for the country's largest economic hub to optimise itspotential and advantages, create breakthroughs, and remove bottlenecks in localsocio-economic development.

The document features new policies coveringinvestment, finance-banking, land management, and planning and apparatusorganisation.

Regarding the new policies and mechanisms, theGovernment raised proposals on the city’s use of public investment capital sourcedfrom the city budget and its pilot application of the urban development modeltowards Transit Oriented Development (TOD).

Besides, HCM City should be allowed to expand investmentareas under the public-private partnership (PPP) for sport and cultureprojects, and apply the Build-Operate-Transfer (BOT) contract in the presentroad projects and carry out such BOT projects using its budget, and implementregional, inter-regional projects with the local budget.

The draft resolution also stipulates incentives toattract strategic investors in such areas as chip production, semiconductorintegrated circuit and new materials, conditions for strategic investors, proceduresof project registration, and the selection of strategic investors, amongothers.
Specific mechanisms, policies for HCM City’s development under NA’s consideration ảnh 2Minister of Planning and Investment Nguyen Chi Dung presents the proposal. (Photo: VNA)
Chairman of the NA’s Finance-Budget Committee LeQuang Manh, who represented the assessment agency, noted that the report shouldevaluate precisely both positive aspects and challenges to the implementationof the policies and mechanisms, especially those impacting the State budgetspending and the current resources.

It needs to include more policies on budgetcollection as the city has great advantages in terms of sources of income, hesaid, adding that more regulations on responsibility of organisations andindividuals should be supplemented, apart from those on decentralisation.

To realise such regulations, it requires many guidancedocuments. Therefore, the committee suggested the resolution stipulating whatshould be done and responsibility of those involved./.
VNA
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