On the afternoon of January 22, 2024, Ha Noi Culture and Sport Facilities organized a Workshop on “Mechanism for Business Improvement District (BID) to explain, absorb, revise and complete the Draft Law on Capital (amended)” with the participation of representatives from a number of National Assembly Committees, ministries, departments, Ha Noi People’s Council and Ha Noi People’s Committee, experienced scientists and experts in the fields of law and culture, sports and tourism, and so on. Mr. Nguyen Hung Quang – Managing Partner of NHQuang&Associates were invited to attend the Workshop as a legal expert in the field of law and gave a presentation at the Workshop.
With the aim of determining conditions for formation, establishment of operating mechanism, management model and recommending solutions for business improvement district in Ha Noi in the coming time, Mr. Quang presented the paper on “International experience on Business Improvement District (BID) and proposal of BID model for Ha Noi”. In his presentation, Mr. Quang proposed that Ha Noi needs to develop BID to preserve tangible and intangible cultural values, especially the old town, old village and new spaces for cultural development, to maintain social relationships and community culture. Mr. Quang also pointed out Ha Noi’s potentials in developing BID based on international experience applied over 50 years. To illustrate the applicability of BID mechanism in Ha Noi and Viet Nam, Mr. Quang shared international experience of some countries and cities such as the United States (New York), United Kingdom (London), Japan (Tokyo) and Singapore on successfully applying the BID mechanism and bringing community cultural vitality and commercial development value. He also indicated a number of shortcomings that limit the potential for cultural and sports development in Ha Noi, and at the same time, made a number of proposals to standardize the BID model in the Draft Law on Capital (amended) and implementation solutions once the Law on Capital (amended) is passed.
Besides the presentation of Mr. Quang, many presentations and opinions were raised by experts in the fields of culture, artistic creativity, preservation of crafts and folk values, planning, architecture, state management, etc. to clearly identify opportunities to apply the BID model and shortcomings and inadequacies in the implementation process.
👉 See the presentation and article by Mr. Quang (Vietnamese only) on our blog VNLawFind at https://vnlawfind.com.vn/kinh-nghiem-quoc-te-ve-khu-thuc-day-thuong-mai-van-hoa-bid-va-de-xuat-mo-hinh-bid-cho-ha-noi/