PM Pays 4th Visit to Finance Institutions in 2-Week Long

The Prime Minster Phan Van Khai paid his official visit on Saturday to the Development Assistance Fund (DAF), marking his forth visit to local finance institutions in the last two weeks.

 

Earlier, Khai visited the Hanoi Securities Trading Center (HNSTC), the Bank for Investment and Development of Vietnam (BIDV) on February 6, and the Vietnam Bank for Social Policy on February 14.

 

Notable, Khai on the previous visits urged the Vietnamese stock markets to achieve an annual growth rate of 150 per cent and have a total transaction value of US$16 billion in 2010. According to people having knowledge on the matter, said this move shows that the Government considers the capital market as the key role for economic development this year.

 

During the visit to DAF, Khai urged DAF to focus its lending on the State’s key projects and poverty production projects that benefit remote and ethnic minority inhabited areas. Khai stressed the DAF’s role in providing loans to boost the country’s economic growth and modernization process.

 

After six year of operations, the DAF had provided more than 6,600 projects with VND179 trillion (US$11.3 billion) in committed loans, nearly VND125 trillion (US$7.9 billion) of which has been disbursed.

 

The DAF is assigned to provide loans worth VND31 trillion (US$2 trillion) for development projects this year. DAF is required to raise approximately VND29.7 trillion and collect debts valued at VND6.5 trillion.

 

DAF, which began official operation on Januray1, 2000, specializes in mobilizing capital and receiving and managing State’s capital resources to realizes its development investment credit policy through the provision of loans, credit underwriting services, bank-loan interest support and export support credit. VNS