Hanoi (VNA) – Deputy Prime Minister Le MinhKhai has signed a decision approving the development strategy of the StateCapital Investment Corporation (SCIC) until 2030 with a vision to 2035, as wellas the business and investment plan of the firm until 2025, aiming to turn it into a financial investment organisation with the leading equityscale in Vietnam.

Under the SCIC development strategy until 2030 with a visionto 2035, the corporation will focus on receiving, equitising, restructuring, andselling capital in state-owned enterprises (SOE) without the need for the Stateto hold capital, while effectively performing the role of an institution andtool of the Government to support and promote the process of restructuring, andreshuffling SOEs to improve their operational efficiency.

The SCIC will be strengthened to ensure its financial and governance resourcesfor its tasks of capital investment and business, investing and developinglarge-scale and important projects, supporting the country’s economic growth.

Capital business activities of the SCIC will be made followingthe market mechanism and tasks assigned by the Government, according to thestrategy which underlined the orientation of step by step transforming the corporation’soperational model into a professional investment organisation.

The strategy sets specific operational goals for thecorporation in particular periods. From now to 2025, the corporation willconcentrate on supporting and promoting the process of restructuring,reshuffling and renovating SOEs, while investing and trading capital accordingto market mechanisms in industries and fields that bring benefits and the SCIC hasadvantages without a limitation of investment areas.

At the same time, it will make capital investmentfollowing political tasks assigned by the Government and the Prime Minister,focusing on key sectors that the State needs to control, or engaging insupporting the settlement of financial difficulties in enterprises due tofinancial crisis or force majeure.

In the 2026-2030 period, it will concentrate resources topromote capital investment and business activities, focusing on investing ininfrastructure projects, large and important projects in accordance with thesocio-economic development strategy of the country in each stage.

In the 2031-2035 period, the SCIC will operate in the model of a professionalfinancial investment organisation, serving as the Government’s tool and channelto invest in the economy.

Under the business and investment plan until 2025, it willfocus on investing in key areas and projects, as well as sectors and projectsthat prove effective and attract investment from the society and foreigninvestors, including high technology, digital economy, energy, keyinfrastructure projects, smart cities, health care, pharmaceuticals, finance –banking, and high-tech agriculture. It will also invest in groups, corporationsand commercial banks.

Meanwhile, the SCIC will pour more capital into major and effective businesses withhigh potential, along with areas of innovation, contributing to transformingthe economy’s growth model basing on science and technology. The corporation willalso invest capital in sectors and areas directed by the Government and thePrime Minister using Government capital or capital mobilised by itself./.