Vietnam needs stronger institutions capable of driving growth
Vietnam's Urban Development Law should establish special-class cities as national development institutions, granting preferential mechanisms only to cities capable of driving growth, fostering innovation, promoting international integration. Special urban law proposed to redefine governance, autonomy in HCMC Ho Chi Minh City to submit draft Special Urban Law in July
Vietnam is drafting a new Urban Development Law aimed at establishing special-class cities that will serve as national growth engines, capable of driving economic growth, fostering innovation, and promoting international integration. These cities are intended to be granted preferential mechanisms, but the draft law emphasizes that the mission of these cities is paramount, rather than simply their size or existing mechanisms.
The State grants special mechanisms to these cities not for their population or GDP, but because of the unique responsibilities they will undertake in driving national development. This approach is in line with international examples, where cities like Singapore, Shanghai, Seoul, and Dubai have become globally competitive hubs due to the national missions assigned to them and the tailored institutional frameworks provided to them.
Brief written by urgent.news from SGGP English Edition's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
