HFIC Welcomes the Delegation from the Ministry of Finance to Discuss the Management of Government On-Lent Foreign Loan Capital

On September 26, 2025, Ho Chi Minh City State Investment Corporation (HFIC) held a working session with the Delegation from the Debt and External Economic Management Department under the Ministry of Finance regarding the management of on-lent foreign loan capital of the Government at the Development Investment Funds (DIFs) of Ho Chi Minh City.

The Head of the Delegation from the Debt and External Economic Management Department was Mr. Nguyễn Quốc Phương – Director General, accompanied by several department leaders and professional staff. On the HFIC side, Mr. Trương Tuấn Anh – General Director of HFIC, along with representatives of the Executive Board and relevant professional departments, attended the session. The working session also included the participation of Binh Duong Development Investment Fund with Mr. Phan Văn Chiến – Deputy Director, and leaders of several professional departments. Currently, HFIC is assigned to coordinate with Binh Duong DIF and Ba Ria – Vung Tau DIF to develop a Proposal for the organization and restructuring of local DIFs to advise the Ho Chi Minh City People’s Committee.

Mr. Nguyễn Quốc Phương – Director General of the Debt and External Economic Management Department

 
Mr. Trương Tuấn Anh – General Director of Ho Chi Minh City State Investment Corporation

 
Mr. Phan Văn Chiến – Deputy Director of Binh Duong Development Investment Fund

During the session, HFIC updated the total outstanding debt of four projects on-lent from the Ministry of Finance under the credit limits from ODA loans of the World Bank (WB) and the French Development Agency (AFD) as of September 30, 2025, totaling VND 1,163.8 billion. Since implementation, HFIC has on-lent a total of 55 sub-projects with total disbursements of VND 3,294.7 billion, of which VND 2,612.6 billion came from on-lent capital from the Ministry of Finance, focusing on sectors such as education, healthcare, social housing, housing for low-income groups, environment, transportation, and other technical infrastructure. All sub-projects have fully and timely repaid their loans. Annually, HFIC is highly appreciated by the Ministry of Finance for fulfilling financial obligations on time, thereby ensuring compliance with commitments to each credit provider.

Overview of the working session

Regarding Binh Duong Development Investment Fund, the Fund has disbursed loans for five sub-projects in the fields of education, seaports, and clean water infrastructure, with a total loan value of VND 296.8 billion. As of June 30, 2025, the Fund’s on-lent debt from the Ministry of Finance remained VND 187.9 billion.

In addition to reporting on the use of on-lent capital and debt repayment, HFIC also highlighted the common difficulties that the Funds face in finding long-term, low-cost capital sources to continue financing socio-economic development projects in priority investment sectors of the City. The Ministry of Finance informed that it is studying solutions to remove policy obstacles during partial amendments of the 2017 Public Debt Management Law; sharing information to support the Funds in accessing concessional loans for sustainable development financing; and updating several new points in Decree 242/2025/ND-CP issued on September 10, 2025, regarding the on-lending and utilization of ODA loans and foreign concessional loans in accordance with Government regulations.

Delegates take a commemorative photo at the working session