THE SPECIAL URBAN LAW: A NEW LAUNCHPAD FOR HO CHI MINH CITY

Ho Chi Minh City is facing the imperative to create new breakthroughs in institutions, infrastructure, finance, and development models to maintain its role as the economic locomotive of the nation.

From the perspective of Mr. Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Union of Business Associations (HUBA), expressed in the interview titled "A Solid Launchpad," the Ho Chi Minh City business community fully supports and endorses the initiative to develop the Special Urban Law. They believe this will serve as a crucial foundation for the City to enter a new stage of development.

According to him, the Draft Law opens up opportunities for Ho Chi Minh City to pilot and develop new service models such as an International Financial Center, integrated logistics zones, international exhibition and convention centers, digital infrastructure, data centers, and shared digital platforms.

From a business perspective, HUBA recommended the necessity for mechanisms that enable both large enterprises and small and medium-sized enterprises (SMEs) to access capital through the Viet Nam International Financial Center in Ho Chi Minh City (VIFC-HCMC), while simultaneously supporting businesses in the fields of innovation, logistics, green transition, and supply chains.

In particular, the sandbox mechanism is expected to create a safe testing environment for new business models, but it must be accompanied by a clear legal framework, a transparent transitional mechanism, and an appropriate roadmap for legal refinement.

The Special Urban Law, if designed effectively, will become a launchpad for Ho Chi Minh City to enhance its competitiveness, attract resources, and continue to affirm its role as the economic locomotive of the nation.