Special mechanisms: A "Boost" for local development
- 117
- Business
- 15:22 12/06/2024
DNHN - To ensure balanced and sustainable development nationwide, the implementation of special mechanisms will drive local development. These mechanisms also provide a significant "boost" for growth and progress.
Recently, the government presented to the National Assembly a draft resolution outlining special mechanisms and policies for implementing national target programs.
Previously, the National Assembly discussed a draft resolution on organizing urban governance and piloting certain development mechanisms and policies for Da Nang City.
For instance, after four years of implementing National Assembly Resolution No. 119/2020/QH14, Da Nang City has recorded notable achievements in the effectiveness and efficiency of its state administrative apparatus, as well as in promoting the decentralization and delegation of authority from the city government to lower levels, specifically districts and wards.
However, the city still faces several challenges and difficulties, including issues related to the organizational structure and financial mechanisms of district and ward People's Committees, coordination among ward officials and civil servants, and the scope of authority of district and ward People's Councils. Resolution No. 119/2020/QH14 mainly focused on piloting an urban governance model without introducing specific, breakthrough policies and mechanisms that could create widespread impact across various sectors.
Notably, special mechanisms allow localities to decide on and use a portion of their local financial resources from taxes and other sources. This autonomy enables localities to invest in infrastructure, education, healthcare, and other sectors effectively.
The application of special mechanisms grants localities the authority to define their development goals and strategies. Decisions made will be tailored to the unique characteristics and development potential of each locality, enhancing competitiveness and fostering sustainable development.
Specifically, these mechanisms will also include the establishment of special economic zones to attract investment and foster economic development in targeted areas. Special economic zones create a favorable business environment with preferential policies on taxes, customs, and investment. This attracts both domestic and foreign investors, generating jobs and stimulating local economic growth.
Special mechanisms provide localities with the autonomy to develop their economies efficiently. Local decision-making authority combined with local financial resources promotes investment, job creation, and community income growth. This contributes to national economic growth and reduces the development gap between regions.
Therefore, special mechanisms also encourage innovation and creativity at the local level. Making decisions and formulating unique strategies allow localities to focus on their advantageous and potential sectors. This fosters innovation in business, technology, and management, creating an environment that drives development and enhances the quality of life.
For example, special mechanisms provide local financial resources for investing in transportation infrastructure, public transport, and related projects. This improves connectivity between localities and enhances the movement of goods, services, and people. Good infrastructure is crucial for attracting investment and economic development.
Additionally, these mechanisms offer opportunities for rural areas to develop economically, improve living standards, and reduce labor surplus. Localities can focus on developing agriculture, processing agricultural products, and building tourist destinations to attract visitors. This simultaneously helps preserve and promote local culture, heritage, and landscapes.
In conclusion, special mechanisms will prove essential and effective in promoting local development in Vietnam. Local decision-making authority, local financial resources, and special economic zones create a conducive environment for investment, innovation, and economic growth. These mechanisms also help balance development across regions, fostering sustainability and improving the quality of life for citizens. The government should continue to enhance and optimize special mechanisms to drive comprehensive national development.
Tran Vy
Related news
#local economy
Vietnam to improve institutions to attract foreign investment
In view of the important contributions of investment capital to the local economy, Vietnam needs immediate solutions to attract more FDI and strengthen its sources, according to experts.
Đọc thêm Business
How does FDI investment affect the real estate market?
FDI investment has a profound impact on Vietnam's real estate market, especially during the first 9 months of 2024.
Long An province forges strategic ties with Korean Corporations, strengthens role in international economic relations
During a recent investment promotion mission to South Korea, a delegation from Long An Province, held important meetings with major Korean corporations such as STS Group, CS Wind, and GS Energy.
Green Power – Bringing a Green Mark to the Community
Renewable energy and semiconductors are the current and future trends. Vietnam and Global Power JSC (Green Power) is on a journey to conquer the market.
Real estate credit recovers slower than expected
Real estate credit is recovering slowly but is expected to grow rapidly thanks to low interest rates and more favorable supply. However, high house prices and low liquidity remain major challenges for buyers and investors.
Long An Province continues to Promote Korean Investment, Strengthen International Ties, and aim for a Green Economy and sustainable development
In the face of globalization and the growing demand for sustainable practices, Long An Province is proactively seeking foreign investment, particularly from South Korea, a key strategic partner for both Vietnam and Long An Province.
Challenges and opportunities in the final sprint of public investment disbursement
With just over 3 months left until the end of the 2024 fiscal year, the public investment disbursement rate has only reached 47.29%. The pressure is increasing, requiring ministries and sectors to concentrate their efforts in the coming period.
Long An is committed to accompanying and welcoming businesses "like family"
The province of Long An hopes that businesses investing in Long An will feel like they are returning to their home, collaborating together for long-term and sustainable development.
Vietnam - Cambodia - Laos: The friendship and solidarity relationship forged through challenges is an invaluable asset for the people of the three countries
Vietnam's investment in Cambodia and Laos remains among the top, with 205 projects in Cambodia (USD 2.95 billion) and 245 projects in Laos (USD 5.5 billion).
Vietnam will become a maritime power in 2045 for this reason
For Vietnam to become a strong maritime nation, wealthy from the sea as the Party and State have set out, many bold and synchronous solutions are being proposed.
2030 business Club organizes the forum "Young entrepreneurs - Global aspirations 2024
This year's event continues to be a space for sharing and connecting for over 500 entrepreneurs and businesses from both domestic and international markets.