Hai Phong Portal

According to the delegates attending the session, one of the guiding principles in drafting the resolution is to authorize Hai Phong City to the maximum extent possible to enhance the city’s autonomy, creativity, accountability, and self-responsibility—while ensuring public and business support, and avoiding adverse impacts on the investment and business environment. Issuing a new resolution to replace Resolution No. 35/2021 is necessary to remove bottlenecks, attain breakthroughs, generate a widespread positive impact in the Red River Delta region, and contribute to national economic growth. The approach is in line with the objectives set out in Resolution No. 45 of the Politburo.

In agreement with the principles, Vietnam’s National Assembly Chairman Trần Thanh Mẫn stated during the session that the draft resolution is being considered in the context of administrative boundary reorganization. Therefore, the Government should send a formal request to the Politburo for guidance on applying special mechanisms and policies to Hai Phong City following its territorial expansion and merger, thus facilitating the National Assembly’s review, approval, and the subsequent implementation process. The Chairman also emphasized the need to further promote decentralization and delegation of authority, in line with the directives from the Politburo and the Secretariat.

Regarding financial mechanisms, the Chairman highlighted the need for more favorable incentives than the current regulations. Under Resolution No. 35/2021, Hai Phong City is allowed to retain up to 70% of the increase in central budget revenues generated locally for infrastructure investment. The draft resolution proposes increasing this to 80–85%. The Chairman considered this a reasonable proposal and also praised the draft’s provision allowing the pilot issuance of green bonds and infrastructure bonds with preferential interest rates, as a means to encourage private economic development./.