Hanoi (VNA)🦹 – The 15th National Assembly on May 13 heard a proposal and verification report on a draft resolution aimed at transforming the northern port city of Hai Phong through pilot special mechanisms and policies.
Presented at the NA’s 9th session in Hanoi, the proposal seeks to replace an earlier resolution and drive high growth across the Red River Delta for the 2026-2030 period, aligned with the goals set by the Politburo and the Party Central Committee.
Minister of Finance Nguyen Van Thang, who presented the draft resolution, said it is designed to tackle bottlenecks, create breakthroughs with regional spillover effects.
The draft resolution introduces several innovative financial and state budget management measures. Notably, it allows Hai Phong city to borrow through local government bonds, loans from domestic financial institutions and other entities, and re-lent funds from the Government’s foreign loans, with annual borrowing and budget overspending capped by the legislature under the Law on State Budget.
To spur innovation and entrepreneurship, the draft offers a range of tax incentives for startups, including a five-year corporate income tax exemption, a five-year exemption on income from capital transfers in innovative startups, and a five-year personal income tax break for experts, scientists, and startup employees in Hai Phong.
A centrepiece of the draft is the proposed establishment of a Free Trade Zone (FTZ) in Hai Phong city. This FTZ will be accompanied by several special preferential policies, including simplified administrative procedures for investment and business registration, export-import processes, immigration, temporary residence, and work permits.
Minister of Finance Nguyen Van Thang speaks at the meeting. (Photo: VNA)
Additionally, the FTZ will feature streamlined rules for land use and construction investment, optimised investment incentives such as land and water surface rent reductions, and tax breaks. It will also facilitate other investment and business activities, including permission for foreign bank branches to open transaction offices within the FTZ outside of their branch headquarters.
Phan Van Mai, Chairman of the NA's Committee for Economic and Financial Affairs, delivered a verification report endorsing the draft resolution’s political, legal, and practical foundations. However, he urged careful assessment of the FTZ’s economic, budgetary, and regional impacts.
Robust oversight and risk management, he insisted, are crucial to safeguard transparency, financial stability, and social order. And accountability, he added, must be pinned down, with clear roles for those steering this experiment./.
The "Hoa Phuong Do" train is a tourism product deeply rooted in the unique identity of Hai Phong, and it is expected to become a new favourite for visitors.
On 13 May 1955, Hai Phong was officially liberated, marking a major milestone in the resistance against French colonial rule and the beginning of the reconstruction of northern Vietnam. Over the past seven decades, the heroic port city has continually risen, becoming one of the country’s key economic drivers and taking on the shape of a modern, dynamic urban hub. Hai Phong is now undergoing a strong transformation, striving to become a regional-level city and an international logistics centre.
The northern port city of Hai Phong has secured the top position in the 2024 Provincial Competitiveness Index (PCI) for the first time, with a score of 74.84.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
