(ĐN) – Yesterday morning of May 31, a ceremony marked the 5th anniversary of the Provincial Development Investment Fund (PDIF) establishment was held in Bien Hoa city. It also aimed to appraise result of the last bond issues for construction of Lake Cau Moi (New Bridge) project.
 |
| Mrs. Dang Thi Kim Nguyen was presenting certificates of merit to units that made active contributions to the last bond issues. |
(ĐN) – Yesterday morning of May 31, a ceremony marked the 5th anniversary of the Provincial Development Investment Fund (PDIF) establishment was held in Bien Hoa city. It also aimed to appraise result of the last bond issues for construction of Lake Cau Moi (New Bridge) project. Speaking at the ceremony, Mr. Pham Quang Dung, official of the Ministry of Finance (MoF) praised Dong Nai for separating the PDIF from the Provincial Development Support Fund (PDSF) to establish an independent credit organization. The PDIF aimed to allocate more money in investing in the local projects and contribute to speeding up the local economic development.The PDIF is one of the 5 top units throughout the country that are operating effectively. It is only behind Ho Chi Minh City’s Urban Development Investment Fund on the most effective operation in bond issues.
Charter capital of the PDIF, however, was not enough for expanding their operation. Therefore, the situation required better solutions for increasing their capital and expanding the scope of their operation. Accordingly, the PDFI should ask permission of the local authorities for transform it into an enterprise or a financial investment group based on their existing system including many independent units. The new organization would receive the increasing cash in the province of which foreign direct investment capital included. Dung said.
Dang Thi Kim Nguyen, Deputy Chairwoman of the Provincial Peoples’ Committee and President of PDIF Management Council is of the same mind about this issue as proposed by Dung. "The fund will mobilize more money in the province for increasing their capital. At the same time, qualifications of the fund staff should be considered as playing an important role in take part into capital and stock markets as well as integrate into the regional and world trade." told Nguyen.
The province was willing to consign its capital being invested in the local joint-venture enterprises to the PDIF. The fund would be allowed to mobilize capital in the province by issuing bonds for investing in the local projects. During past 5 years, it had lent money to 600 projects in the local with their loans hit up VND 932.140 billions. Besides, many projects of upgrading public utilities and expanding production of the local enterprises as proposed by Dong Nai Electricity Company, Donafoods company Ltd., Viet Thanh Ceramic Corporation, Tien Triet Infrastructure Company etc. have enjoyed soft loans. She added.
K.L
