SCIC reviews the first 2013 semi-annual performance and sets the final semi-annual targets

SCIC reviews the first 2013 semi-annual performance and sets the final semi-annual targets

Do Son, Hai Phong, July 5, 2013 – State Capital Investment Corporation (SCIC) hosts a meeting to review the first 2013 semi-annual performance and set the final semi-annual targets.

Those attending the meeting comprise Mr. Tran Van Hieu, Vice Minister of Finance, Member of the Board, Mr. Dan Duc Hiep, Vice Standing Chairman of Hai Phong’s People’s Committee and leaders from related agencies in the Ministry of Finance, Ministry of Public Security, Hai Phong’s Department of Finance, Do Son District’s Party and People’s Committee; and state capital representatives at SCIC’s significant A-group portfolio companies and other portfolio companies in Hai Phong.

From SCIC, the attendees include Mr. Lai Van Dao, Secretary of SCIC’s party cell, Member of the Board and CEO and other Board Members, Management Board and the whole staff of SCIC.

Despite the challenging economic conditions both locally and internationally with slow recovery rate, SCIC basically managed to reach the first semi-annual targets and fulfill a number of key tasks.

SCIC has reported to the Ministry of Finance for finalization and submit to the Government the draft Decree on the SCIC’s operation as well as submit to the Prime Minister the Restructuring Plan for SCIC. These documents are expected to be approved soon to create a clear legal framework and provide a bold guidance for SCIC’s operation in the coming time.

More importantly, SCIC has effectively deployed the corporate governance, fulfilling the role of the state interest representative at equitized, one member limited and two member limited companies; successfully completing the company transfer and restructure via divestment and ownership transfer. Investment is continued to be a key task with expansive scope and clearer guidance. SCIC also has been proactive at defining strategic partners and paid more attention at those projects that are beneficiary for the community such as projects in health care, infrastructure, which open a totally new direction for the corporation’s investment. Other activities related to the Party, Trade Union, Youth Union …have also been reinforced.

Given the said achievements, SCIC was awarded an emulation flag from the Government for excellent performance in the emulation movement in 2012.

On this occasion, 5 groups and 3 individuals were awarded the merits from the Ministry of Finance for their contribution to the socialism development and national protection in the period of 2010 – 2012. 2 individuals was regconized by the Ministry of Finance to be emulation warriors in 2012.

These achievements can be attributed to the attention and instruction from the Party, Government and Ministry of Finance; the effective cooperation and assistance from line Ministries and agencies, Government Office, Central Enterprise Group’s Party as well as the restless effort of SCIC’s Management and staff.

To reach the 2013 business targets, based on the first semi-annual performance and the guidance for the last half of the year, SCIC intends to focus on such tasks as: applying all necessary methods to reach and even break the 2013 business plan’s targets which are being submitted to the Board of Directors; accelerating the significant objectives: capital transfer, corporate governance, investment and the effective cooperation between the Governmental agencies and Party, Trade Union. SCIC’s Management and Trade Union Committee join hand to start the emulation movement among SCIC’s staff to fulfill the last 6 months’ business targets./.