SCIC and SSE exchange valuable information and agree to many cooperation possibilities

HANOI, Viet Nam, March 18, 2024 – At the head office of the State Capital Investment Corporation (SCIC), Mr. Nguyen Chi Thanh - Chairman of the Board of Directors; Mr. Le Thanh Tuan - Deputy General Director and representatives of SCIC's functional departments received and worked with the delegation of the Shanghai Stock Exchange (SSE) led by Mr. Cai Jianchun - President of SSE. Also with the delegation were Mr. Zhang Bin - Executive Director, International Relations Department; Mr. Xu Minglei - Executive Director, Listed Companies Management Department; Mr. Shi Xiaoyu - Executive Director, Market Regulation Department; Mr. Wu Peng - Deputy Chief of Staff, Executive Office.

Mr. Cai Jianchun - President of SSE (middle) sharing information about SSE with SCIC

At the meeting, Mr. Cai Jianchun gave a brief introduction about SSE: the formation, development process, operating model and notable business results in recent years. According to Mr. Cai, SSE is one of the largest stock exchanges in the world. According to statistics from the World Federation of Exchanges (WFE), by the end of 2023, SSE ranked 3rd, 5th and 1st respectively in terms of total market capitalization, total revenue and capital mobilization in the world. At the same time, SSE is also a partner of more than 100 Sovereign Wealth Funds, of which SSE is a major partner of a number of funds in Indonesia, Malaysia, Saudi Arabia...

Regarding SSE's development orientation in the near future, Mr. Cai Jianchun said that besides the developed Western markets, SSE is moving into the Asian markets, of which Vietnam is one of the countries sharing many similarities as well as very positive political, diplomatic and trade relations with China. Therefore, SSE wishes to increase contact and exchange with SCIC to promote cooperation opportunities in accordance with the investment criteria of both sides.

Mr. Nguyen Chi Thanh - Chairman of SCIC's Board of Directors with the Shanghai Stock Exchange (SSE) delegation

On SCIC's side, Chairman of the Board of Directors Mr. Nguyen Chi Thanh thanked SSE for the interest and goodwill to cooperate with SCIC. Mr. Nguyen Chi Thanh affirmed that Chinese investment funds and financial institutions are always important partners of Viet Nam in general and of SCIC in particular. Viet Nam, currently in the process of stabilizing and recovering economic growth after major impacts from the pandemic, in addition to domestic capital, will need to mobilize a large amount of foreign funding to serve national development. Mr. Nguyen Chi Thanh also affirmed that SCIC is ready to act as a bridge to support and create the most favorable conditions for international investors to research, explore opportunities, invest and operate long-term and effectively with large, high-potential enterprises of Viet Nam.

Mr. Nguyen Chi Thanh introduced to the SSE delegation a number of cooperation opportunities between international investors in Viet Nam in the sectors of railways, steel production, infrastructure... At the same time, Mr. Nguyen Chi Thanh requested SSE to consider a number of proposals on investment cooperation possibilities, including: participate in purchasing shares from firms in SCIC's divestment portfolio; research and consider participating in investment in the North-South high-speed railway project, and discuss with relevant parties about the project to build a financial center in Ho Chi Minh City, support firms with SCIC-managed capital to learn about listing on the SSE according to the needs of the firms, support SCIC-managed firms with international loan needs to access quality capital sources at low fees, connect with Chinese investors interested and wishing to invest in Viet Nam, provide capacity building activities for SCIC, especially in the field of corporate governance...

SCIC Chairman of the Board of Directors and SSE President exchanging gifts and souvenir photos

At the end of the meeting, Chairman Nguyen Chi Thanh and President Cai Jianchun sent each other’s delegations their sincere thanks for their time as well as the shared information that proved very practical and useful for operational and development prospects of SCIC and SSE in the coming time, and agreed to consider cooperation proposals between SCIC and SSE in supporting businesses to access markets, especially each other's capital markets, and consider the possibility of investment cooperation in suitable projects, organizing and exchanging working groups to introduce products, and providing capacity building activities within appropriate frameworks.