What are the tasks and powers of the director of a local Development Investment Fund in Vietnam?

What are the tasks and powers of the director of a local Development Investment Fund in Vietnam? (Internet image) 

According to the provisions of Decree 138/2007/ND-CP, the administration apparatus of a local Development Investment Fund is composed of the Board of Directors (the director and deputy director) and professional sections and departments. The Funds director is a member of the Management Council and appointed by the provincial-level Peoples Committee president. The director is a legal-person representative of the Fund and answerable before the provincial-level Peoples Committee, the Management Council and law for all professional operations of the Fund.

Therefore, the director of a local Development Investment Fund in Vietnam has the following tasks and powers:

- To manage and administer the Funds activities strictly according to the Funds organization and operation charter, the Management Councils decisions and laws;

- To submit to the Management Council for promulgation the Regulation on the Funds professional operations;

- To be answerable for his/her decisions before the provincial-level Peoples Committee and the Management Council; to sign documents falling within his/her scope of administration;

- To periodically or extraordinarily report on the Funds operation to the Management Council, the provincial-level Peoples Committee and the Ministry of Finance;

- To directly manage assets and operating capital, and are responsible for preserving and developing capital and assets of the Fund in accordance with law;

- To decide on the appointment, relief from office or dismissal of heads of professional sections or departments or persons holding equivalent and lower posts;

- Other powers defined in the Funds organization and operation charter.

More details can be found in Decree 138/2007/ND-CP which comes into force from September 19, 2007.

Ty Na

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