Establishment of Bac Ninh Province Development Investment Fund

BAC NINH - Chairman of the Provincial People's Committee Vuong Quoc Tuan has just signed and issued Decision No. 17/QD-UBND on the establishment of the Bac Ninh Provincial Development Investment Fund.

Accordingly, the Bac Ninh Provincial Development Investment Fund was established under the Bac Ninh Provincial People's Committee. This is a non-budgetary state financial fund established by the Provincial People's Committee, operating not for profit, preserving and developing capital; performing lending and investment functions locally.

The Fund has legal status, charter capital, seal and is allowed to open accounts at the State Treasury and commercial banks in accordance with the law; the Provincial People's Committee performs the function of representative of the State owner of the Fund.

The organizational structure of the fund includes: The Management Board consists of 3 people (working part-time). Of which, the Vice Chairman of the Provincial People's Committee (Chairman of the Management Board), the Director of the Fund (Vice Chairman of the Management Board) and the Director of the Department of Finance (Member of the Management Board). The Chairman of the Provincial People's Committee appoints, dismisses, and removes the positions of the Board.

Illustration photo.

The Fund Control Board consists of 3 members. The Head of the Board is appointed, dismissed, removed, rewarded, disciplined... by the Chairman of the Provincial People's Committee at the request of the Chairman of the Fund Management Board; other members comply with the provisions of the Fund's Charter on organization and operation decided by the Provincial People's Committee.

The Fund's executive apparatus includes: Fund Director; Deputy Fund Director, Chief Accountant and professional departments. The organization of professional departments is decided by the Provincial People's Committee to ensure that it is suitable for the scale and scope of operations and in accordance with the Charter on the organization and operation of the Fund.

The responsibilities and powers of the Provincial Development Investment Fund are implemented according to Article 5 of Decree No. 147/2020/ND-CP dated December 18, 2020 of the Government regulating the organization and operation of the Local Development Investment Fund.

According to the Provincial People's Committee Portal

Source: https://baobacninhtv.vn/thanh-lap-quy-dau-tu-phat-trien-tinh-bac-ninh-postid421836.bbg