HFIC sum ups pilot activities of State capital ownership representative function - Website Ho Chi Minh City
On march 9, HCMC People’s Committee organized a sum up ceremony of implementation of State capital ownership representative function of HCMC Finance and Investment State owned Company (HFIC)
After 6 years of pilot implementation, HFIC has received 8 State-owned enterprises of HCMC. These enterprises’ value has increased to VND 8,000 from VND 3, 671. HFIC is one of the most efficient operation units among development and investment funds nationwide with chartered capital taking up 28%, mobilized capital of 55%, average outstanding loan balance of HFIC in 2010-2012 reaching VND 5, 000 billion, attracting international capital from prestigious financial organizations including World Bank, etc.
Deputy Chairman of HCMC People’s Committee Tran Vinh Tuyen said HFIC should continue promoting its role as an extended arm of the city’s budget and the most efficient operation unit amongst other development and investment funds nationwide. He said that he will propose the Government to allow HFIC to play the role of State capital ownership representative under HCMC People’s Committee. This will help HFIC mobilize all resources to invest in key infrastructure projects that other economic components cannot, creating driving forces to increase the city’s budget revenue in the new period.