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[BUSINESS] · Vietnam · 2 sources

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Ho Chi Minh City seeks urban development autonomy and underground expansion

Ho Chi Minh City is pursuing the development of underground spaces to alleviate infrastructure pressure, such as flooding and traffic congestion, and to create new economic growth drivers. While the city has had plans for decades to develop underground parking and commercial connections to metro lines, these projects have faced delays due to overlapping administrative procedures, complex technical requirements, and a lack of a clear legal framework.

To address these challenges, the city is advocating for new mechanisms within the Urban Development Law. This proposed legal framework aims to shift from resolving individual obstacles to providing a comprehensive regulatory structure. Under the new law, Ho Chi Minh City, as a special municipality, would gain significantly expanded autonomy. This includes the power to proactively issue policies regarding organizational structure, planning, housing, and resource mobilization, operating under a principle of comprehensive decentralization where the local government makes decisions and assumes responsibility without waiting for central guidance.