Mr. Nguyen Viet Long - Deputy Director of the State Bank of Vietnam Ha Giang branch; Mr. Le Van Hoan - Party Committee Secretary, VDB Chairman of the Board of Directors; Mr. Nguyen Chinh Tuan – VDB Member of the Board of Directors, along with leaders and officers of VDB’s risk management Department and credit Department have attended and witnessed the ceremony.
![](https://vdb.gov.vn/Images/editor/images/2024/T6/3.jpg)
Located in Tung San and Tan Tien communes, Hoang Su Phi district, Ha Giang province - particularly difficult socio-economic condition area, Tung San 1 and Tung San 2 hydropower projects have a total installed capacity of 17MW, producing an annual average of electricity output (Eo) of 52.6 million kWh/year. Once in operation, these projects are to provide electricity to the national grid, contributing to socio-economic development, creating jobs for local labors, eliminating hunger and reducing poverty in the area.
Tung San 1 and Tung San 2 are the first projects funded by VDB according to Decree No. 78/2023/ND-CP dated November 7, 2023 of the Government amending and supplementing a number of articles of Decree No. 32/2017/ND-CP on State investment credit. This credit contract signing has a particularly important signification as it marked VDB’s efforts in process of restructure, renovation to better Vietnam business in the aiming of developing the country./.