On the afternoon of November 24, the National Assembly Standing Committee gave its opinion on the draft Resolution amending and supplementing a number of articles of Resolution No. 98/2023/QH15 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Ho Chi Minh City (Resolution 98).
Presenting the report, Minister of Finance Nguyen Van Thang said that the goal of the resolution is to continue to improve the legal basis, ensuring specific, superior, strict, feasible and more effective mechanisms and policies.
At the same time, it meets the urgent requirements in attracting strategic investors, mobilizing domestic and foreign resources for development investment, meeting the requirements and development orientation of Ho Chi Minh City after the merger.
After merging with Ba Ria - Vung Tau and Binh Duong, Ho Chi Minh City has expanded its development space with an area of 6,772.6 km2, population of 13.6 million people.
According to the draft, the Government has proposed the establishment of the Ho Chi Minh City Free Trade Zone.
The draft stipulates the establishment of a full legal framework for the Free Trade Zone model, including: Location, functional zone structure, management mechanism, authority, land policy, investment incentives, simplification of administrative procedures and specific customs mechanisms.
According to the Government, this addition aims to create a unique and outstanding institutional space for the Free Trade Zone in Ho Chi Minh City similar to Hai Phong City and Da Nang City to attract high-quality investment.
At the same time, develop modern services and promote innovation, contributing to making the city an international economic, financial and trade center of the region.
Regarding specific policies for the Free Trade Zone, the Government proposed to give the Ho Chi Minh City People's Committee the authority to decide to establish, expand, and adjust the boundaries of the Free Trade Zone, considering this a decision to locally adjust the city's general planning.
In addition, the City People's Council stipulates the order and procedures for establishing, expanding, and adjusting the boundaries of the Free Trade Zone.
Along with that, it is proposed to allow land allocation and lease without auction or bidding for investment projects in the free trade zone (except for commercial housing projects), to speed up investment attraction and infrastructure development in the zone.
Reform administrative procedures and investment conditions in the direction that foreign investors are established economic organizations without investment projects, no need for a Certificate of Registration of Investment in advance, only need to comply with market access conditions...
The Government also proposed a 10% corporate income tax incentive for 20 years, a 4-year exemption, a 50% reduction for 9 years; along with a 50% reduction in personal income tax for 10 years for experts, scientists, and high-quality workers, which is an outstanding incentive for today's economic zones.
According to the inspection report of the Economic and Financial Committee, the Standing Committee of the Committee agreed with the proposal on the necessity of amending and supplementing a number of articles of Resolution No. 98.
