HCM City to focus on land, finance policies this year

VietNamNet Bridge – HCM City People’s Committee this year will focus on carrying out National Assembly’s Resolution No 54 on piloting special policies on land management, investment, finance and the state budget for the city. 

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With the new resolution on piloting special policies on land management, investment, finance and the state budget for the city, HCM City has a good base for development this year. 


The resolution, which takes effect on January 15, devolves decision-making on granting authority on several matters, including setting the salaries of civil servants whom the city manages.

Speaking at a conference on socio-economic development plans and the city budget held yesterday, HCM City Party Committee Secretary Nguyen Thien Nhan said that, with the resolution, the city had a good base for development this year.

Nguyen Thanh Phong, chairman of the city People’s Committee, said that plans to implement the policies would be carried out by March.

To attract more investors, priority will be given to industrial parks, traffic infrastructure and high-tech areas, Nhan said.

To reduce costs, Nhan said that capital acquired from land, land bids, and invitations for bids for projects should be used instead of designated contractors.

The city should also invest more in science and technology, including creating an innovative urban area to improve the quality of growth and economic competitiveness, he said.

He also instructed the city to develop ways to encourage innovative startups.

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HCM City Party Committee Secretary Nguyen Thien Nhan speaks at a conference on socio-economic development plans for HCM City held on Jan 2. —VNA/VNS Photos Thanh Vu


This year, the city aims to reach a gross regional domestic product growth rate of 8.3 - 8.5 per cent.

To reach the goal, the agricultural sector will have to rise by at least 6.3 per cent, while industry and construction will have to grow by 7.9 per cent, and 8 per cent for services.

The city would aim to achieve budget collection worth VND376.8 trillion (US$16.5 billion), an increase of 8.3 per cent compared to last year, Phong said.

To do so, the city would have to collect more than VND1.2 trillion ($52.6 million) every day, excluding Sunday, he added.

The city would also need VND850 trillion for programmes on reducing pollution and flooding, and building traffic infrastructure.

Since the city’s budget meets only 30 per cent of the requirements for such programmes, investment from the private sector is needed, according to the chairman.

Last year, the city saw socio-economic progress, which contributed to improving the quality of life for its residents but challenges still exist, he said.

The city last year did not reach its targeted economic growth rate and number of new enterprises, he noted.

Infrastructure remained overloaded and traffic jams in rush hours continued to occur, while many areas were flooded during heavy rains and tides.

In addition, the city found violations in construction projects in many areas last year, Phong said. 

Source: VNS

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