Renamed Hai Phong Investment and Land Development Fund to Hai Phong Investment and Development Fund

(Haiphong.gov.vn) – The City People's Committee has just issued Decision 3315 on changing the name of Hai Phong Investment and Land Development Fund to Hai Phong Development Investment Fund, international transaction name is Haiphong Development Investment Fund.

The Foundation's headquarters is at 12 Hoang Dieu, May To Ward, Ngo Quyen District, Hai Phong City. The Fund is an extra-budget state organization under the People's Committee of Hai Phong city, has legal status, independent accounting, charter capital, seal, and is allowed to open accounts at the State Treasury and commercial banks legally operating in Vietnam according to the provisions of law.

The Fund operates on the principle of not for profit, preserving and developing capital; The use of the Fund must be for the right purpose, public, transparent, effective and in accordance with the provisions of law. The Fund's financial mechanism will comply with the provisions of Decree 147 of the Government on the financial management mechanism of the Local Development Investment Fund. Capital sources and assets to carry out land development tasks and powers are accounted separately from the operating capital of the Hai Phong Development Investment Fund.

According to this Decision, the Hai Phong Development Investment Fund continues to maintain and after 3 years will re-evaluate to come up with an appropriate handling plan, temporarily continue to carry out its tasks and powers on land development according to regulations, and issue a Charter to implement the Fund's tasks according to the Government's regulations and the law.

The Management Board of Hai Phong Investment and Development Fund manages and uses the Fund's capital in accordance with the law and the Fund's Charter of organization and operations, preserving and developing the Fund's capital.

The Department of Finance is responsible for guiding, inspecting and coordinating with the Hai Phong Development Investment Fund to carry out assigned tasks according to regulations.

Tram Bau