Minister of Finance Ngo Van Tuan. Photo: Duc Thanh

Under the decision, Minister of Finance Ngo Van Tuan has been appointed chairman of the Management Council, while Deputy Minister of Finance Nguyen Thi Bich Ngoc will serve as vice chairwoman.

Other members of the council include Deputy Minister of Science and Technology Bui Hoang Phuong, Deputy Minister of Home Affairs Nguyen Manh Khuong, Deputy Minister of Industry and Trade Phan Thi Thang, and Deputy Minister of Construction Nguyen Van Sinh.

The decision took effect on July 24, the date of its signing, and replaces the list of council members stipulated in Article 1 of Prime Ministerial Decision No.1511/QD-TTg dated July 11, 2025, which established the Investment Support Fund Management Council.

Under Decision No.1511/QD-TTg, the council is responsible for determining the Fund's five-year and annual strategies and operating plans, issuing or amending its operating regulations, overseeing the management and use of the fund in accordance with the law, approving the fund's annual financial plan, and ensuring that the fund operates on a non-profit basis.

The council is also tasked with submitting to the government proposals on the total level of cost support for eligible enterprises, considering socioeconomic development priorities, investment attraction objectives for each period, and the state budget's annual capacity.

Based on the approved allocations, it assigns funding plans to local authorities for implementation and notifies the State Treasury to facilitate expenditure control. It is also responsible for approving the fund's periodic and final financial reports.

In addition, the council supervises and inspects the Fund's Executive Agency to ensure compliance with legal regulations and the council's resolutions and decisions.

It is authorised to issue investment support decisions for enterprises that have not yet commenced operations, as well as for businesses eligible for initial investment cost support under Section 2, Chapter III of Decree No.182/2024/ND-CP dated December 31, 2024.

The Management Council is entitled to use the official seal of the Investment Support Fund in carrying out its duties and exercises other powers assigned by the prime minister.