HCMC promotes building preschools to meet increasing demands

One of breakthroughs in promoting building preschools in Ho Chi Minh City is that the municipal People’s Committee has issued many policies benefitting investors and the city authority undertakes paying investors’ interests to banks.

As per the People’s Committee’s decision on mobilizing fund for building preschool in the city, total amount for the preschool investment program is estimated around of VND2,700 billion (US$ 126,468,000).

Many projects are carrying out in districts Cu Chi, Binh Thanh, Can Gio and Binh Tan with 14, 7, 7 and 9 respectively.

Nguyen Dinh Thai Chau, head of the department of Education and Training’s Division of Finance, said that this is one of moves to manifest the city authority’s determination in promoting preschool building progress to meet residents’ demand.

Phan Thi Thang, deputy head of the Department of Finance said that in 2014, the city had 117 projects which need capital while the state budget faces many difficulties in balancing the fund to satisfy all projects.

Therefore, the city decided to connect with banks in the city to offer more capital to investors. However, above all, it needs the district authority’s determination, Ms. Thang added.

According to an inter-departments draft, investors with the loan contract of maximum 8 years must finish building preschool within 24 months. After the deadline, investors must pay the principal debt and interest two times a year on March and September. 

By Thu Tam - Translated by Uyen Phuong

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