The Resolution,sailing through the legislature with 433 out of 438 votes in favour, also amends previous legislation on special development policies for the city.

Under the approved document, the free trade zone will have defined geographic boundaries and be organised into functional areas, including production zones, port and logistics hubs, commercial-service areas, and other specialised zones.

Projects within the zone, excluding commercial housing, will be exempt from land auction and bidding requirements to accelerate infrastructure development and investment.

Businesses may register projects under special procedures and benefit from a 20-year corporate income tax reduction, including four years of full exemption and a further 50% reduction over the following nine years. High-skilled workers, specialists, and scientists will enjoy a 50% personal income tax reduction for ten years.

Companies will also be allowed to list, price, and conduct transactions in foreign currency.

The city government is authorised to combine infrastructure development with commercial, public, and residential projects along key transit corridors using a transit-oriented development model. Authorities may adjust technical standards and land-use plans to meet infrastructure, social, and environmental requirements, provided safety standards are upheld.

The Resolution also prioritises strategic investment in 11 groups of projects, including high-end tourism and resort complexes along the Saigon and Dong Nai rivers and coastal areas with a minimum capital of VND30 trillion, specialised healthcare clusters, sports and cultural complexes, riverfront redevelopment projects, port infrastructure investments of at least VND75 trillion, logistics centres, and industrial-urban-service hubs with minimum investments of VND20–25 trillion.

The resolution integrates citywide planning, allowing Ho Chi Minh City to create a comprehensive master plan that aligns national, regional, and provincial planning, serving as the legal framework for future urban and rural development. It aims to accelerate high-quality investment, modernise infrastructure, attract human capital, and strengthen Ho Chi Minh City’s role as a leading economic centre in Vietnam and the wider region.

Vietnam eyes first free trade zones by 2026 to pilot breakthrough policies

VOV.VN - Vietnam plans to launch its first free trade zones (FTZs) in 2026 under a proposal discussed by the government at a meeting on December 5, as the country seeks to pilot breakthrough policies to spur growth and strengthen its competitiveness.