Latest meeting between SCIC and VinaCapital revealed promising investment opportunities and new strategies

HANOI, Viet Nam, November 21, 2023 – At SCIC’s Headquarters, Chairman of the Board of Members of SCIC Mr. Nguyen Chi Thanh had a working meeting with VinaCapital Group led by Mr. Andy Ho, General Director of the Investment Council.

Attending the meeting, on SCIC's side, were Mr. Nguyen Chi Thanh - Chairman of the Board of Members and representatives of SCIC Functional Departments.

SCIC Chairman of the Board of Members Mr. Nguyen Chi Thanh receiving and working with VinaCapital Group

At the meeting, SCIC’s Mr. Nguyen Chi Thanh gave an overview of the situations on implementing restructuring and improvements for institutions, mechanisms and policies of SOEs in Viet Nam in general, and the Development and Restructuring Strategy of SCIC in particular. Mr. Nguyen Chi Thanh emphasized that during the process of comprehensive international integration, SCIC as well as SOEs, state corporations and state firms, are expected to continue maintaining their leading role and capacity in starting dialogues and negotiations with international partners, to attract more promising and quality capital from investment funds into projects that meet the criteria of relevant parties. Chairman Nguyen Chi Thanh also affirmed that SCIC is ready to act as a conduit to support and create the most favorable conditions for international investors to research, explore opportunities, make investment decisions and operate long-term and effectively alongside large and prospective enterprises in Viet Nam

Recently, SCIC has also been actively connecting with national investment funds from other countries to seek opportunities to cooperate and invest in bringing green finance to Viet Nam, thereby contributing to improving the attractiveness of Vietnam's investment environment, creating incentives and spillover effects for sustainable growth.

According to the SCIC Development Strategy for the period 2021-2030 and Vision to 2035 approved by Deputy Prime Minister Le Minh Khai, after 2025, SCIC will convert its operations to those of an investment fund to fulfill its role as the government investor. SCIC will focus on investing in a number of key industries, fields and projects that the State needs to focus on investing in and maintaining authority. SCIC will mobilize and invest financial resources for a number of large-scale SOEs with a leading role; to invest in innovation and contribute to transforming the growth model of the economy to be based on science and technology.

Scene of SCIC-VinaCapital meeting

Regarding the Vietnamese market, Mr. Nguyen Chi Thanh, Chairman of SCIC's Board, introduced to the VinaCapital delegation a number of cooperation opportunities between international investors and Vietnamese businesses in general and cooperation opportunities with SCIC in particular. Some investment fields that the two sides discussed at the meeting include: infrastructure, seaports, railways, logistics, etc. At the same time, to strengthen the cooperative relationship between SCIC and VinaCapital in the coming period, Mr. Nguyen Chi Thanh asked VinaCapital to consider a number of proposals: to research into purchasing shares of businesses from SCIC's divestment portfolio; to consider coordinating and providing inputs alongside relevant authorities on the National Congress Draft Law No.69/2014/QH13 (amended) that are suitable in practice; to establish a common investment fund to jointly invest in projects that meet the relevant parties' criteria.

Mr. Andy Ho, General Director of the Investment Council and the rest of VinaCapital delegation

Speaking at the meeting, Mr. Andy Ho, VinaCapital General Director of the Investment Council, respectfully thanked SCIC leaders for taking the time to welcome and emphasized that the contents of Chairman Nguyen Chi Thanh's proposals for cooperation between SCIC and VinaCapital Group are extremely practical; At the same time, he expressed his honor to coordinate with SCIC in sharing investment opportunities, investment knowledge, analytical capabilities and financial expertise to actively connect with national investment funds worldwide to seek cooperation and investment opportunities that can attract green finance to Viet Nam. Besides, with their strong suit in accessing diverse markets and having experience in many fields, VinaCapital Group is also willing to share information and explore the possibility of cooperation in establishing a joint investment fund in the near future.