Funding support for essential local projects
On July 9, 2025, Chairman of Bac Ninh Provincial People's Committee Vuong Quoc Tuan signed Decision No. 17/QD-UBND on the establishment of Bac Ninh Provincial Development Investment Fund.
This is a non-budgetary state financial fund, directly established and managed by the Provincial People's Committee, operating on a non-profit model, with the principle of preserving and developing capital.
Bac Ninh Provincial Development Investment Fund will perform the function of lending and financial investment for programs and projects in priority areas, in accordance with the local socio -economic development planning.
 |
| Bac Ninh established a Development Investment Fund to support investment projects. |
Specifically, according to Decree No. 147/2020/ND-CP of the Government, the Fund can provide capital for technical infrastructure projects, industrial parks, high-tech parks, social housing, medical facilities, education, environmental protection, high-tech agriculture and other fields according to the decision of the Provincial People's Committee.
The Fund has legal status, charter capital, its own seal and is allowed to open accounts at the State Treasury as well as commercial banks. The Provincial People's Committee acts as the representative agency of the State ownership of the Fund.
Regarding the organizational structure, the Fund has a Management Board of 3 members, of which the Vice Chairman of the Provincial People's Committee is the Chairman of the Management Board; the Director of the Fund is the Vice Chairman and the Director of the Department of Finance is a member. These positions are appointed and dismissed by the Chairman of the Provincial People's Committee.
In addition, the Board of Control consists of 3 people, with the Head of the Board also decided by the Chairman of the Provincial People's Committee. The Fund's executive apparatus includes the Director, Deputy Director, Chief Accountant and professional departments organized in accordance with the scope of the Fund's operations.
New impetus for economic and business development
The establishment of the Development Investment Fund is expected to create a sustainable financial channel, capable of directly supporting key projects, while helping Bac Ninh gradually reduce its dependence on capital from the central budget or commercial loans.
In the context that the locality is aiming to become a centrally-governed city in the 2030-2045 period, the role of the Fund is very important in increasing resources for public investment and connecting capital with the private sector.
Bac Ninh is currently one of the fastest industrializing localities in the country. In the first 6 months of 2025, the province's GRDP increased by about 7.2% over the same period last year, higher than the national average.
The province currently has more than 1,700 valid FDI projects, with a total registered capital exceeding 25 billion USD, focusing mainly on the fields of electronic component manufacturing, supporting industry and high technology. Along with that, thousands of domestic enterprises are operating strongly in the fields of manufacturing, logistics and urban services.
However, according to experts, capital for small and medium-sized enterprises, as well as medium-sized infrastructure investment projects, still faces many barriers in terms of interest rates and commercial lending conditions.
Meanwhile, the Development Investment Fund with its preferential lending and direct investment contribution functions will act as an effective "bridge", minimizing risks for investors and facilitating synchronous development between the public and private sectors.
Establishing the Development Investment Fund is a concrete step in the strategy of restructuring Bac Ninh's growth model, from growth based on geographical location advantages and FDI capital to a model based on innovation, developing high-tech industry and improving people's quality of life.
In addition to its role as a financial investor, the Fund can also contribute capital to establish credit institutions and enterprises serving public purposes, participate in public-private partnership (PPP) projects, or lend to projects with clear capital recovery plans.
In fact, the provincial development investment fund model has been implemented in many localities such as Hanoi, Ho Chi Minh City, Da Nang, Binh Duong, etc. and has shown clear effectiveness in providing resources for sustainable development.
With its available potential, Bac Ninh is expected to soon effectively operate the Development Investment Fund, thereby contributing to realizing the goal of becoming a new growth pole of the capital region and the Northern region.
Source: https://baodautu.vn/bac-ninh-thanh-lap-quy-dau-tu-phat-trien-thuc-day-tang-truong-kinh-te-d328557.html
Comment (0)