Under the decision, Vice Chairman Bui Van Khanh was elected as chairman of the fund management council, Vice Director of the Lien Viet Post joint Stock Commercial Bank’s Hoa Binh branch Pham Van Giau as director of the fund for five years. The development fund, a state financial organisation in the locality, has legal status and is allowed to open an account at the State Treasury and other legal commercial banks. Managed by the provincial People’s Committee, the fund will be used in financial investment and development investment.

Photo: Chairman of the provincial People’s Committee Nguyen Van Quang presents the decision on the fund establishment to Vice Chairman Bui Van Khanh, chairman of the fund management council.

The fund’s organisation includes a management council and a supervisory board, running as a non-profit bank for social policies on the basis of financial independence. With an initial chartered capital of 100 billion VND (4.4 million USD), the fund is responsible for mobilising medium and long-term capital from both domestic and foreign organisations and individuals in line with legal regulations. It can make direct investments in projects and financial contributions, entrust investment, distribute investment capital, issue local bonds to mobilise resource for local budget and organise activities of credit guarantee funds, among others.

Photo: Chairman of the provincial People’s Committee Nguyen Van Quang presents the decision on the appointment of Pham Van Giau, Vice Director of the Lien Viet Post joint Stock Commercial Bank’s, as director of the fund.

Speaking at the event, Chairman Nguyen Van Quang asked the fund to fulfill its functions of managing, mobilising and using the capital in an effective way to support local infrastructure development, attract investment and address difficulties in investment in environment protection.

On behalf of the fund management council, Vice Chairman Bui Van Khanh promised to run the fund smoothly in accordance with current regulations and make good use of the capital, serving the province’s socio-economic development./.

                                                      Le Chung

Related Topics

Mai Chau district eyes turning Van Mai dam xanh fish into an OCOP product

Hoa Binh works to promote outstanding rural industrial products

Hoa Binh city effectively implements labour export tasks

Mai Chau’s bangana lemassoni fish receives official brand certification

---

Hoa Binh on track to exceed socio-economic targets

Vice Secretary of the provincial Party Committee and Chairman of the provincial People's Committee Bui Van Khanh chaired the regular October meeting of the provincial People's Committee to review 2024 socio-economic performance.

Hoa Binh makes efforts to develop infrastructure in industrial clusters

Taking advantage of favourable weather conditions, constructor is speeding up the construction of technical infrastructure at Tien Tien industrial cluster in Quang Tien commune of Hoa Binh city. So far, the construction of important infrastructure works in the industrial cluster such as the operation office, wastewater treatment plant, power supply system, clean water supply system, fire prevention and fighting system, rainwater drainage system, and internal traffic roads has been completed.

Banks offer credit support to victims of typhoon Yagi

Numerous credit solutions have been implemented by local banks in Hoa Binh province to support individuals and businesses affected by Typhoon Yagi. These measures include debt rescheduling, providing in-depth financial advice, and offering interest rate reductions based on the extent of damages.

Party member brings Muong Vang turmeric starch far and wide

Starting from nothing and persevering through a challenging entrepreneurial journey, Bui Van Nhung, a teacher and Party member in Lac Son district’s Nhan Nghia commune - has built Nhung Van Co. Ltd. into a respected provider of high-quality products. Driven by his passion and determination to overcome poverty, this young Party member has blazed a new trail, inspiring the aspirations of farmers across Mường Vang.

Fair to display and introduce typical products of ethnic minority and mountainous areas

In November 8, at Kim Boi District Stadium, the Department of Industry and Trade and the People's Committee of Kim Boi District, Hoa Binh province jointly organized the opening of the Fair to display and introduce typical products of ethnic minority and mountainous areas.

Farmers enjoy good harvest, good prices of Cao Phong orange

Orange growers in Cao Phong district of Hoa Binh province have enjoyed a good harvest and good prices of the fruit this year.