HANOI -- Vietnam is granting Can Tho, on the Mekong Delta, a special status to draw investment amid China's growing presence in the country and the South China Sea.
The National Assembly approved the plan to promote the southern city on Tuesday. With this resolution, Hanoi will grant the city increased autonomy to issue local government bonds and retain more of its budget for its own development rather than contributing to the government's coffers. More flexibility will be granted in the area of city planning on a trial basis.
