Vietnam: The local development investment fund must have the actual charter capital of not less than VND 300 billion

Duc Thao

08:56, 21/12/2020

This is a notable content of the Decree No. 147/2020/NĐ-CP on regulations on organization and operation of the Local Investment and Development Fund in Vietnam.

According to Article 6 of the Decree No. 147/2020/NĐ-CP of Vietnam’s Government, conditions for establishing a new Local Development and Investment Fund are as follows:

1. Having actual charter capital at the time of establishment not less than VND 300 billion.

2. There is a project to establish a local development investment fund approved by the People's Council of the province.

3. There is a draft charter on organization and operation of the local development investment fund in accordance with the provisions of Article 8 of this Decree.

Besides, this Decree also specifies the scope of activities of the Local Investment and Development Fund as follows:

- Mobilize medium- and long-term capital from domestic and foreign organizations according to regulations;

- Lending to projects on the Fund's list of investment and lending fields;

- Investment in projects, investment in the establishment of economic organizations, investment in capital contribution, purchase of shares and contributed capital of economic organizations in the list of investment and lending fields of the Fund;

- etc.

View more details at the Decree No. 147/2020/NĐ-CP of Vietnam’s Government, effective from February 05, 2021.

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