Vietnamese localities authorized to set up Local Development Investment Funds
The Decree governing the establishment and operation of the Local Development Investment Funds was signed by the Prime Minister on December 18.
![](http://media.hanoitimes.vn/2021/05/14/logo_hntimes.png)
Pime Minister Nguyen Xuan Phuc has allowed cities and provinces nationwide to establish Local Development Investment Funds (LDIF), which are off-budget under the form of fund raising, lending, investment, trust and fiduciary.
The Decree governing the establishment and operation of the Local Development Investment Funds was signed by the Prime Minister on December 18. Photo: Cong Hung |
According to the Decree No.147 issued by the Prime Minister recently, the Local Development Investment Funds are non-profit organizations, performing the function of lending and investing locally according to the provisions of the cecree.
The provincial People's Committee represent the State ownership of the Funds.
The funds will mobilize medium and long-term capital from domestic and foreign organizations according to the provisions of this Decree and relevant laws; performs lending to projects on the investment portfolio provided by this Decree.
The funds will also invest in projects, contribute capital and purchase shares of economic organizations.
The decree takes effect from February 5, 2021 and replaces Decree No. 138 dated August 28, 2007 on the organization and operation of the LDIF, and the Decree. No. 37 dated April 22, 2013 amending and supplementing a number of articles of Decree No. 138.
Other News
- HSBC raises Vietnam’s GDP growth forecast to 6.5% in 2024
- Hanoi to push for smart tax agency
- Taxes revenue from online shopping in Vietnam nearly triple in H1
- Banks inject over US$20 billion into economy in June, surpassing five-month total
- Corporate bond issuance almost triples in H1
- Vietnam climbs 11 places in budget transparency ranking
- Finance ministry cut fees for fifth time
- Corporate capital demand set to accelerate in H2
- US says Vietnam not manipulating currency
- Number of securities accounts in Vietnam reaches new high
Trending
-
State Funeral held for Communist Party Chief Nguyen Phu Trong
-
Vietnam news in brief - July 26
-
Legal tools required to tackle air pollution issues in Hanoi
-
How fake news hooks us?
-
South Korean writer spends 10 years on book about CPV General Secretary
-
Rustic charm of Hanoi's street vendors: Timeless beauty
-
iHaNoi sees 52,000 registered accounts, 20,000 daily visits
-
Youth-Led Environmental Initiative in Hanoi
-
Unique lotus flower art on display in Hanoi