SCIC to become investment entity with leading equity in Vietnam

The State Capital Investment Corporation (SCIC), which manages and invests state capital in enterprises, should become the top financial investment organization with leading equity scale in Vietnam after 2025.

This is one of the goals set by the government in the coporation's development strategy to 2030, with a vision to 2035; and its business and investment development plan until 2025.

Accordingly, SCIC must become an effective institution and tool of the government to support and promote the restructuring and rearrangement of state-owned enterprises.

This entity will be provided with financial and governance resources to make capital investments and develop large-scale and important projects.

Under the roadmap, the corporation will be gradually transformed into a professional investment organization, and become a top financial investment organization with leading equity scale in Vietnam after 2025.

By 2025, the SCIC will continue to receive the right to represent state capital from ministries, agencies and localities to restructure capital through investment, holdings, divestment, and ownership conversion.

Regarding capital investment and business, the SCIC will pour capital into industries and fields that bring efficiency and have advantages in the principle of autonomy, self-responsibility and no limits to investment fields; key and important areas that the state needs to hold capital or engage in to support the handling of financial difficulties for businesses due to financial crises or force majeure.

In the 2026-2030 period, the SCIC will focus resources to promote capital investment and business, epecially in infrastructure projects and large and important projects in line with the country's socio-economic development strategy.

In 2031-2035, this corporation will operate under the model of a professional financial investment organization, serving as the government’s investment tool and channel in the economy.

In its five-year business plan to 2025, the SCIC will focus on investing in key and effective fields like high technology, digital economy, energy, key infrastructure projects (airports, roads and railways), smart cities, modern health care, pharmaceuticals, and finance-banking.

The corporation will invest in groups, corporations, commercial banks; and pour additional capital into a number of large, effectively operating and potential businesses in its existing portfolio.

In the first half of this year, the SCIC recorded revenue of more than VND2.6 trillion ($106.7 million), while its accumulated after-tax profit reached VND3.1 trillion ($131.9 million), exceeding the year's plan by 10.5% and 6.2%, respectively. The corporation paid VND126 billion ($5.17 million) in corporate income tax.