On September 26, at the 3rd session, the An Giang Provincial People's Council approved a draft resolution approving the project to establish the An Giang Provincial Development Investment Fund on the basis of merging the old Kien Giang and old An Giang Provincial Development Investment Funds.
The project to merge the An Giang Provincial Development Investment Fund into the An Giang Provincial Development Investment Fund based on the functions, tasks, and activities in the field of lending and investment in the province according to the provisions of Decree No. 147/2020/ND-CP.
The An Giang Provincial Development Investment Fund after the merger has an initial initial investment capital of VND 411 billion 790 million. The Fund's apparatus is expected to be 20 people, headquartered in Rach Gia ward.
According to the project, the old Kien Giang Development Investment Fund and the old An Giang Provincial Development Investment Fund must review and thoroughly handle the conclusions and recommendations of the inspection and auditing agencies that have not been implemented related to financial handling and other handling. At the same time, be fully responsible for the related records and documents on State financial resources until the competent authority decides to reorganize and organize the apparatus.
When handing over financial resources between the two units, a record of handover and receipt must be made between the parties, including debts to be collected and repayed (if any), the conclusions and recommendations of the inspection and auditing agency have not been implemented. Absolutely do not let the situation of loss of State financial resources occur.
To ensure continuing to focus on handling and recovering debts with appropriate measures, limiting capital flight to the lowest level, with the highest goal of preserving capital for the State, the agencies will develop a proposal after the merger, the Fund will develop a plan to continue handling and recovering debts within 5 years. It is expected from 2026 to 2030 to ensure the Fund's operations are effective and in accordance with the provisions of Decree No. 147/2020/ND-CP.
At the same time, temporarily suspend investment lending, invest directly contributing capital to enterprises... Only focus on handling mortgaged assets to recover debts (borrowing and interest); prepare a file to sue enterprises in court to handle mortgaged assets to recover and handle the provision of bad debt risk reserves for groups 4 and 5, ensuring compliance with regulations, preserving capital for the State.
The outstanding debt situation that needs to be collected is still high, the bad debt ratio is high compared to the regulations as stated in the status report of the two Kien Giang Development Investment Funds and An Giang Provincial Development Investment Funds before the merger. Investment loan debt of VND 67 billion 848 million, of which bad debt is VND 38 billion 462 million, accounting for 56.69%; student loans of VND 14 billion 679 million principal; outstanding debt repayment in place of collateral for small and medium enterprises that must continue to be recovered and processed VND 23 billion and other debts to be collected.
