Functions and Duties
I/ Functions
- Receive the provincial allocated budget, grants and aids; mobilize medium and long-term funds from domestic and international individual and organizations to finance socio-economic infrastructure development projects of the province in accordance with current regulations.
- Receive and manage entrusted funds from domestic and foreign individuals and organisations to carry out investment activities in line with trust contracts; issue municipal bonds under the authorisation of the provincial People’s Committee to mobilise capital for the province’s budget.
- Carry out direct investment projects, provide investment loans, contribute capital to set up new enterprises.
- Receive entrusted funds and manage activities of the Credit Guarantee Fund for Small and Medium enterprises, Housing Development Fund, Land Development Fund, the Fund for Supporting Development of Cooporatives, and other financial funds established by the Provincial People’s Committee.
- Entrust credit institutions and Vietnam Development Bank to lend and collect debts for certain projects in the Fund’s investment portfolio through the entrust contract between the Fund and the entrusted organisations.
II/ Duties
- Carry out direct investment in or providing investment loans to projects as prescribed in the List of Priority Investment Sectors for socio-economic infrastructure development approved by the Provincial People’s Committee; or provide capital contribution to set up new enterprises under the form of liability limited company or joint stock company in accordance with the Enterprise Law to directly invest in projects as prescribed in the above List.
- Conduct investment in line with current regulations, for the right purpose, and beneficiaries, in effective manner; timely collection of full loan principal and interest.
- Ensure accounting, statistics, and financial reporting policies in accordance with current regulations.
- Be subject to inspection and examination of the State agencies; provide data, disclose publicly financial situation in accordance with current regulations.
- Purchase asset insurance, risk insurance, and other insurance in accordance with current regulations.
- Strictly comply with State policies and regulations relating to the Fund activities; report periodically or as required by the Provincial People’s Committee, the Department of Finance, and the Ministry of Finance.
- Manage and allocate funds properly and effectively in line with stated purposes; ensure capital safety and development; cover self-expenditures and be responsible for own risk.
- Commit to timely payment for all obligations to individual and organisational creditors.
- Commit to fulfill all financial obligations to the State in accordance with current regulations.
- Other duties as assigned by the Provincial People’s Committee.
