The Ho Chi Minh City Investment Fund for Urban Development (HFIU), now known as the Ho Chi Minh City State Financial Investment Company (HFIC)
Initial capital: VND 45 billion (equivalent to 15% charter capital).
At the end of 2005, the Ho Chi Minh City Investment Fund for Urban Development (HFIU) received shares transfer of VND 10 billion (by par value) from the Ho Chi Minh City Investment and Services JSC, increasing HIFU’s capital ownership to VND 55 billion (equivalent to 18.33% charter capital).
Established in 1997, HIFU serves as HCMC People Committee’s key instrument to invest in the city’s infrastructure development. In 2010, the HCMC People Committee established the Ho Chi minh City Financial Investment State-owned company (HFIC) as a restructured entity of HIFU. HFIC has the charter capital of VND 5,000 billion and is HCMC’s first non-bank financial institution.
HFIC’s main mission is to attract capital from local and overseas organizations and individuals through bonds issuance, loans, and sponsorship. From there, the fund directly and indirectly invests in the sectors and industries that HCM City prioritizes, offers loans to investments in infrastructure development and other important economic sectors, issues municipal bonds and project bonds as authorized by the HCMC People’s Committee, and manages State-owned capital.
The Production, Business, Commerce and Import-Export Services Voluntary Youth Company (VYC), now known as the Public Service Voluntary Youth One Member Limited Company
Initial capital: VND 15 billion (equivalent to 5% charter capital)
The Production, Business, Commerce and Import-Export Services Voluntary Youth Company was established in 1995. The Company had invested in some key projects such as Nguyen Huu Canh Street, Inter-provincial Road 25B, Ngo Tat To Apartment, Pham Viet Chanh Apartment, Nguyen Hong Apartment, renovation and expansion of Dien Bien Phu Street …
The Ho Chi Minh City Investment and Services Company, now known as the Ho Chi Minh City Investment and Services JSC (INVESCO)
Initial capital: VDN 15 billion (equivalent to 5% charter capital)
In late 2005 the Ho Chi Minh City Investment and Services Company (INVESCO) had transferred to the Ho Chi Minh City Investment Fund for Urban Development (HIFU) and other shareholders shares worth VND 12.5 billion by par value. The shares they own are now worth VND 2.5 billion.
INVESCO was founded in 1996. The Company has made investments on infrastructure projects such as Hung Vuong Street renovation and expansion, South Hung Vuong residential area, Cat Lai Industrial Zone …