SCIC proposes a series of solutions to promote State investment capital

It is the first time SCIC’s Development Strategy has been approved by the Prime Minister after 17 years of operation. Photo baochinhphu.vn

HÀ NỘI – SCIC has set an average annual revenue target of VNĐ9.4 trillion (US$391.67 million) per year according to its five-year production and business plan.

The State Capital Investment Corporation (SCIC) announced the implementation of the development strategy, business plan, and investment plan in accordance with Decision No 1336/QĐ-TTg of the Government on approval of the Development Strategy to 2030 and vision to 2035, business plan and development investment plan to 2025 of this unit.

The average profit after tax reaches VNĐ6.7 trillion, while the average annual State budget contribution reaches VNĐ5.4 trillion and the total investment disbursement is VNĐ36.3 trillion for the whole period by 2025.

During the 2026-2030 period, SCIC will focus resources to promote capital investment and business activities, prioritising investment in effective industries, key and important industries and fields in which the State needs to hold and SCIC has advantages.

It will gradually research and transform its operating model to that of a professional investment organisation to well perform its duties as an investor of the Government after 2025.

In the 2031-2035 period, SCIC will operate under the model of a professional financial investment organisation, serving as an investment tool and channel for the Government in the economy.

To achieve these goals, SCIC offers a group of solutions, according to which, for the period of 2025, it will accelerate the reception of the right to represent the owner of State capital; improve corporate governance efficiency; continue to implement restructuring and equitisation, selling state capital in enterprises; promote and expand business investment activities.

Along with that, SCIC will research, perfect and propose operating models to well perform capital investment and business tasks; continue to build the institutional system, innovate corporate governance, restructure and improve financial capacity and transform SCIC’s operating model.

It is the first time its Development Strategy has been approved by the Prime Minister after 17 years of operation, said Nguyễn Chí Thành, Chairman of SCIC.

The development strategy and five-year plan are important legal bases and clearly define goals, directions and solutions for SCIC to promote the implementation of capital investment and business activities, and perform the role of the Government as an investor, according to Thành.

SCIC has received 1,080 businesses with a total State capital of more than VNĐ32.34 trillion, successfully sold at 1,054 businesses, with a total value of VNĐ51.67 trillion, arrange and equitise 31 enterprises.

The enterprise achieved total revenue of VNĐ 110.43 trillion, total profit of VNĐ85.86 trillion, average ROE for the whole period of 13 per cent per year, total payment to the state budget of VNĐ92.25 trillion, total investment disbursement value of VNĐ37.6 trillion. VNS