The amended Resolution 98 is expected to provide an unprecedented institutional breakthrough for Ho Chi Minh City, while the TOD (Transit-Oriented Development) model opens up a sustainable and modern urban growth path. These dual strategies - legal reform and smart planning - are seen as key drivers of the city's transformation.

VietNamNet spoke with National Assembly deputy Tran Hoang Ngan, who closely followed the revision of Resolution 98, and urban planner Ngo Viet Nam Son, for their insights on how Ho Chi Minh City can seize this historic opportunity.

Resolution 98: Creating an institutional runway for acceleration

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The Ben Thanh–Suoi Tien Metro Line, Ho Chi Minh City's first urban rail project.

Mr. Tran Hoang Ngan, what is your assessment of the revised Resolution 98’s significance in the current context?

Tran Hoang Ngan: It is profoundly important for Ho Chi Minh City. After the pandemic and a challenging recovery phase, the city needs a strong, flexible institutional framework to unlock bottlenecks and unleash its potential. This resolution is not just about short-term fixes - it lays a foundation for rapid and sustainable growth in the medium and long term.

What are the main "bottlenecks" that Resolution 98 must address?

The key issues are investment mechanisms, financial-budgetary frameworks, and decision-making authority. HCMC has immense potential, but it has long been constrained by bureaucratic procedures and fragmented authority. Without sufficient autonomy, it's difficult to attract strategic investors, especially in critical sectors like finance, commerce, science and technology, and infrastructure.

Welcoming strategic investors with the right policy tools

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National Assembly deputy Tran Hoang Ngan. Photo: HV

You often emphasize the role of strategic investors. Why is this so crucial?

Strategic investors bring not just capital, but also technology, management expertise, and global value chains. If HCMC wants a breakthrough, it needs to attract true “eagles,” not just smaller players. This requires a flexible and compelling policy framework - not one confined to a narrow list of incentives.

What specific adjustments do you propose in Resolution 98?

The list of priority sectors for strategic investors should be expanded to include finance, commerce, healthcare, education, and technology. More importantly, the city's People's Council should have the authority to adjust this list in response to real-world needs - without constantly having to seek approval from the National Assembly.

Does the resolution address the city’s fiscal constraints?

Yes. HCMC is not asking for a bigger share of national budget allocation, but for mechanisms to mobilize and manage resources more effectively. By tapping into land assets, infrastructure, and public-private partnerships, the city can generate the fiscal space it needs for development.

Linking institutional reform with urban development models

As governance and resource frameworks improve, infrastructure and urban spatial planning have become central issues - especially as the city expands in both scale and population.

Mr. Ngo Viet Nam Son, what is the role of the TOD model in HCMC’s urban strategy?

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Mr. Ngo Viet Nam Son.

Ngo Viet Nam Son: TOD is key to solving several issues simultaneously - transportation, urban space, infrastructure financing, and quality of life. Instead of viewing metro projects as costly transport endeavors, TOD treats them as urban value generators.

You’ve said a $1 billion metro investment could yield tens of billions in returns. How?

When a metro is built, land values around its stations skyrocket. If the city actively plans, acquires, auctions, and develops land within TOD zones, the revenue from land can far exceed the original infrastructure investment. In essence, the city can fund itself rather than relying entirely on the central budget.

Institutional alignment is crucial for long-term impact

Where should HCMC begin TOD implementation?

Initially, around metro lines 1 and 2, where infrastructure already exists and population density is high. It’s crucial to clearly define TOD influence zones around each station and plan housing, jobs, services, and public spaces in an integrated way, rather than developing piecemeal.

What are the institutional requirements for TOD success?

A clear legal framework and a new governance mindset. TOD won't work if every department acts independently. A strong, central coordinating body is needed to manage planning, land clearance, and investment attraction as a unified process.

Mr. Tran Hoang Ngan, how do you view the link between Resolution 98 and the TOD model?

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Ben Thanh Station at night, the first station on Metro Line 1, featuring a distinctive lotus-inspired design.

Tran Hoang Ngan: Resolution 98 provides the institutional foundation for effective TOD implementation. With more autonomy over planning, finance, and investment, the city can truly bring new urban models like TOD to life.

If these two pillars are deployed in tandem, where will HCMC be in 10–20 years?

The city could achieve strong, sustainable growth and maintain its role as Vietnam’s economic powerhouse. More importantly, it can shift toward a development model based on quality, innovation, and efficient resource use.

Mr. Ngo Viet Nam Son, what is your vision of HCMC’s future if TOD is properly implemented?

Ngo Viet Nam Son: I envision a greener, smarter HCMC where residents rely on public transport instead of private vehicles. Economic growth will align with improved living standards, and the city could compete with other megacities in the region.

Urgent implementation: HCMC gears up for 2026 transformation

On the night of December 12, 2025, HCMC’s People's Committee held an emergency meeting to kick-start implementation of the revised Resolution 98, aiming for a clear, fast-tracked rollout from January 1, 2026.

Key elements include task assignment, forming a dedicated land clearance task force, and drafting immediate action plans.

New core mechanisms:

TOD development: Enables the city to acquire land around transit stations, retain 100% of revenue from land exploitation in these areas, and reinvest in transport infrastructure - creating a modern urban finance model.

Investment attraction: Enhances conditions to draw strategic investors for major projects.

Resolving legacy issues: Prioritizes finalizing land clearance and compensation for key projects like the metro and Ring Road 3.

Vision and expectations

Growth target: New mechanisms are expected to help the city reach annual growth rates of 10.5–11%.

Super city status: HCMC aims to evolve into a modern, innovative megacity with improved living standards and global competitiveness.

New development model: A governance approach centered on empowerment, decentralization, and innovation - differentiating it from other localities.

Ho Van