Binh Duong Development Investment Fund always coupled with the development of the province

Update: 17-05-2019 | 15:20:31

Founded in 1999, with the main task of mobilizing capital from resources, sharing responsibilities with the locality for socio-economic development, Binh Duong Development Investment Fund (BDIF) so far. has grown constantly, become one of the channels of financial support effectively, contributing to the locality to successfully implement the objectives of socio-economic infrastructure development.

In the past years, BDIF has always accompanied the socio-economic development of the province. In the photo: Delegation of the Department of Economics - Budget of the Provincial People's Council supervises the actual situation of BDIF to provide loans to projects in An Thai High-tech Agriculture Zone (Phu Giao)

Flexible investment to support businesses

With the goal of "mobilizing and using capital more effectively", BDIF mobilized from organizations and individuals and especially idle capital from the provincial budget with sales of nearly VND 7,000 billion to lend for projects and investment plans. In 2010, BDIF has approached, negotiated and became one of the first four local funds approved by the World Bank (WB) to grant preferential capital from the Local Development Investment Fund Project with sales of VND 297 billion, interest rate of 4% / year, 25-year term to lend to infrastructure development investment projects in the province. It is the capital mobilized from WB and other sources over the past time that has helped BDIF strengthen its financial capacity, operational capacity, accessibility and appraisal capability; step by step improve operational efficiency and provide opportunities for many businesses to access preferential loans to develop production and business, contributing significantly to the industrialization and modernization of the province.

Besides, as the "pre-capital", BDIF has attracted investors in many fields to join in investment cooperation, set up a joint stock company to contribute resources and ideas of direct investment. into infrastructure, socio-economic development projects in the province. Direct investment projects in the province after being approved have been implemented quickly and effectively. This has affirmed the prestige and capacity of BDIF in calling for cooperation on socialization projects in less attractive areas for investors, because of low profitability and capital recovery time. long, to meet the objectives of socio-economic infrastructure development in each period.

In recent years, BDIF has strengthened activities to support investors, support businesses, especially small and medium enterprises to access and use the fund's loans effectively.

Regarding human resources, with a team of experienced and dedicated staff, the BDIF has attracted the attention and engagement with investors through advice and credit support for Investment projects implemented on schedule and effectively. Some or all of the projects that are supported by BDIF have been built, operating effectively and have practical significance in the socio-economic development of the province, such as Projections. project of upgrading national highway 13, My Phuoc - Tan Van road, Nguyen Khuyen school, Nam Thu Dau Mot Water Plant.

Besides, BDIF also receives entrustment to manage housing development fund, land development fund, credit guarantee fund for small and medium enterprises. The preferential loan from BDIF has encouraged agricultural development in the direction of urban agriculture, high-tech agriculture in the province.

Effectiveness

Since its establishment, BDIF has always achieved and exceeded the assigned targets and tasks; Equity, revenue and profit always have high growth over the years. Specifically, with only the initial charter capital of VND 50 billion, the fund's total operating capital increased to VND 610 billion by the beginning of 2019 and VND 2,100 billion by the beginning of 2019. In particular, the revenue and profit of the fund have increased sharply in recent years: In 1999, the revenue was only VND 3.1 billion and the after-tax profit was VND 1.3 billion. Profit after tax is VND 105 billion.

This impressive growth has been recognized by the Ministry of Finance as one of the three most effective local development investment funds. Mr. Ngo Hoang Minh, Director of BDIF, said that getting this result was thanks to the fund closely following the socio-economic development orientation of the province, along with the leadership and close direction of the Provincial Party Committee and the Provincial People's Committee. ; Besides, there is the acumen, activeness and creative and flexible application, the relentless efforts of the leadership, officials and employees of the fund.

Mr. Minh added, BDIF will continue to make efforts to accompany the province's development in the coming time. Orientation to 2025, BDIF will develop in two directions: increasing the scale of operation and expanding the functions of the fund; together with promoting strategic cooperation with financial institutions, domestic and foreign investors to call for investment cooperation and access to capital for development investment. Besides, the fund continues to improve the organizational structure, build and train its staff to meet the new task, ensuring that the fund will be a strong, professional and capable financial institution effectively task of mobilizing capital and investing in the cause of socio-economic development, contributing to building a worth living smart city of Binh Duong.

In addition to contributions to the development of the province, BDIF also regularly responds and accompanies social activities, such as combining with departments, branches, localities and credit institutions in the province, volunteer activities, gratitude, support for people affected by natural disasters, floods and people in remote areas. Typically, the unit has built many gratitude houses for policy families, families with meritorious services to the revolution with a budget of up to billions of dong. These meaningful activities are also factors that attract, connect and encourage the spirit of BDIF staff and employees to overcome difficulties, work hard and create ceaselessly to build the growing unit development.

Reported by Thanh Hong – Translated by Vi Bao

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Binh Duong Development Investment Fund always coupled with the development of the province

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