State Capital Investment Corporation
The State Capital Investment Corporation (SCIC) is a state-owned holding company that can be characterized as a National Wealth Fund of Vietnam. It was established on 20 June 2005 under the mandate of Prime Minister Phan Văn Khải as part of a range of reforms aimed at enhancing the efficiency of state capital utilisation.[1]
One of the main reasons why it was created was to reduce investment in domestic companies and government divisions in the Vietnamese government and in order to diversify their holdings. Despite all these efforts, the state sector in Vietnam remains relatively inefficient and less competitive than the private sector.[2] The SCIC has a chartered capital base of about VND 5 trillion (equivalent to $315 million).[2] The SCIC commenced operation in August 2006 and as of 30 May 2012, they have around 416 linked firms in their portfolio.[1]
Board Members
Board members:[1]
- Trần Văn Hiếu – Chairman and vice minister of finance
- Lại Văn Đạo – Chief Executive Officer
- Đỗ Hữu Hào – Board member and vice minister of industry and trade
- Cao Viết Sinh – Board member and vice minister of investment and planning
- Hoàng Nguyên Học – Board member and deputy general director
- Nguyễn Quốc Huy – Board member and deputy general director
- Lê Song Lai – Board member and deputy general director
- Nhữ Thị Hồng Liên– Board member and deputy general director
References
- 1 2 3 scic.vn. "SCIC: Corporate Profile". scic.vn.
- 1 2 SWF Institute. "State Capital Investment Corporation". SWF Institute.