Ho Chi Minh City is moving towards becoming an international financial center, a smart city, a digital economy, a green economy, high-quality services, modern logistics, and an innovative ecosystem.

Resolution 09 opens a new development space for Ho Chi Minh City by addressing the construction of breakthrough and outstanding mechanisms, allowing proactive piloting of new mechanisms and policies, controlled testing of “sandbox” models, or implementing models different from current legal regulations when necessary.

This is a strong delegation of power, reflecting the central government’s trust in Ho Chi Minh City’s leading role, while also setting very high requirements for organizational capacity.

Ho Chi Minh City is moving towards becoming an international financial center, a smart city, a digital economy, a green economy, high-quality services, modern logistics, and an innovative ecosystem.

These are all fast-moving fields where many new models emerge from practice before the law can be perfected.

If the city waits until all regulations are fully in place before implementing, it may miss the development pace.

Conversely, if it rushes ahead without proper safeguards, risks could shift to the people, the budget, and the investment environment.

Therefore, the core point is to turn the right to pilot into a systematic implementation capacity. A “sandbox” must have clear public objectives, a specific scope, a defined timeline, an independent monitoring mechanism, quantifiable evaluation criteria, and conditions for termination when risks exceed thresholds.

For Ho Chi Minh City, “sandbox” should not be simply understood as “allowed to do things differently” but must be seen as a modern governance method for development, where new models are tested within a safe scope, unprecedented issues are verified with data, and legal obstacles are assessed for impact before proposing adjustments.

Innovation needs to be facilitated, but it must operate within a safe corridor. Creativity should be encouraged, but social benefits must be demonstrated, data must be transparent, and responsibility must be taken for quality, costs, and resulting impacts.

Management agencies are granted more proactive authority, but they must be accountable with evidence, results, and actual impacts on people’s lives.

The city can proactively announce major problems that need solutions, such as reducing congestion, combating flooding, exploiting land around metro lines, developing social housing, greening industrial zones, sharing urban data, green finance, the night economy, digital health, smart education, regional logistics, and public asset management. When the government correctly identifies the issues, businesses, universities, experts, and associations will have a basis to participate with more specific and responsible proposals.

Ho Chi Minh City also needs a capable institution to support urban policy experimentation. This could be a council or a “sandbox” coordination center, operating leanly and professionally without adding administrative layers.

This institution would be tasked with receiving initiatives, standardizing dossiers, organizing independent critiques, assessing risks, proposing pilot scopes, monitoring implementation, and recommending scaling, adjustments, or termination.

An indispensable principle is to place people at the center of all experiments. A new policy is only truly meaningful if it helps people travel more conveniently, live more safely, access better public services, and gain more opportunities for employment, housing, healthcare, education, and living environment.

Therefore, each “sandbox” needs indicators measuring social benefits, citizen satisfaction, impacts on vulnerable groups, the environment, and any resulting social costs.

In implementation, the city should select a few priority areas to do first, focusing efforts and conducting reviews. Successful models should be standardized for replication. Models that do not meet expectations also have value if they help the system identify risks early, preventing larger mistakes in broader deployment.

Resolution 09 gives Ho Chi Minh City a new space to pioneer. The remaining issue is for the city to turn that space into a concrete action system with procedures, data, people, institutions, and enforcement discipline.

Pham Thai Son, a lecturer

Ho Chi Minh City

Ho Chi Minh City, formerly known as Saigon, is the largest city in Vietnam and a major economic hub. Originally a small fishing village, it grew significantly under French colonial rule in the 19th century, becoming the capital of French Indochina. The city played a pivotal role during the Vietnam War, and after the war ended in 1975, it was renamed Ho Chi Minh City, though the name Saigon is still commonly used for its central district.

international financial center

The International Financial Centre (IFC) is a global hub for banking, investment, and commerce, with prominent examples including Hong Kong’s IFC and London’s financial district. Typically developed in major cities since the late 20th century, these centers emerged alongside the rise of globalized markets and deregulation, serving as headquarters for multinational corporations and stock exchanges. Their history reflects the shift toward interconnected economies, with each IFC playing a key role in facilitating cross-border capital flows and economic growth.

smart city

A smart city is a modern urban area that uses digital technology, data, and Internet of Things (IoT) devices to enhance infrastructure, efficiency, and quality of life for residents. The concept emerged in the early 2000s, with early models like Singapore and Barcelona pioneering the integration of sensors and data analytics into city management. Today, smart cities aim to solve challenges like traffic congestion, energy use, and waste management through real-time monitoring and automated systems.

digital economy

The “digital economy” refers to the global network of economic activities that rely on digital technologies, including e-commerce, online services, and data-driven industries. Its roots trace back to the 1990s with the rise of the internet and the dot-com boom, which revolutionized how businesses operate and interact with consumers. Today, it encompasses everything from streaming platforms and cloud computing to artificial intelligence, fundamentally reshaping traditional markets and creating new opportunities for innovation and growth.

green economy

The “green economy” is not a single place or cultural site, but a global economic concept focused on reducing environmental risks and ecological scarcities, while promoting sustainable development without degrading the environment. Emerging prominently after the 2008 financial crisis, it gained traction through UN initiatives like the Green Economy Coalition and the 2012 Rio+20 conference. Its history is rooted in earlier environmental movements and the push for sustainable development, evolving from ideas of ecological economics to encompass renewable energy, circular systems, and low-carbon policies.

metro lines

Metro lines are underground or elevated railway systems designed to provide fast, efficient urban transit. The first metro line opened in London in 1863 as the Metropolitan Railway, revolutionizing city travel and reducing street congestion. Today, metro systems are vital infrastructure in major cities worldwide, often reflecting local history and engineering advancements.

industrial zones

Industrial zones are designated areas where manufacturing, warehousing, and industrial activities are concentrated, often near transportation hubs. Their modern history dates to the Industrial Revolution, when factories clustered around resources like coal and rivers, but they expanded significantly in the 20th century with global trade and economic development. Today, they are vital to economies worldwide, though they also face challenges related to environmental impact and urban planning.

social housing

Social housing refers to government-subsidized rental accommodations designed to provide affordable homes for low-income or vulnerable populations. Its modern origins trace back to the 19th-century industrial revolution, when rapid urbanization created overcrowded slums, prompting reforms like the Housing of the Working Classes Act in Britain. Today, it remains a crucial tool for addressing housing inequality, though its history includes both successful community-building efforts and challenges related to stigmatization and maintenance.