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Ba Ria-Vung Tau sets up investment fund

Update: June, 09/2014 - 08:01

Photo baobariavungtau

BA RIA-VUNG TAU (VNS) — The southern coastal province of Ba Ria-Vung Tau last Friday launched a development investment fund which operates as a channel to mobilise investment in local infrastructure expansion.

With a charter capital of VND500 billion (US$23.5 million), the State-run credit institution is tasked with receiving investment from the State budget and individuals and organisations both from home and abroad, and using it for the upgrade of local socio-economic facilities.

The fund is also entitled to directly invest in projects and provide enterprises with a start-up capital, along with financial consultancy services. — VNS

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