RDIF and SCIC to develop investment cooperation between Russia and Vietnam in transport, logistics, energy and digital infrastructure
- Đối Ngoại Truyền Thông
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Kazan, June 17, 2026 – The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of Russia) and State Capital Investment Corporation (SCIC, the sovereign wealth fund of Vietnam) have become partners in developing investment cooperation (a non-binding agreement) between Russia and Vietnam in the key areas of bilateral economic relations.
Mr. Nguyen Chi Thanh, Chairman of the Board of Members of SCIC, and Mr. Kirill Dmitriev, CEO of RDIF, exchange the MoU on behalf of their respective organizations, witnessed by the Minister of Finance of Vietnam
The corresponding announcement was made on the sidelines of the Russia–ASEAN Summit in Kazan.
RDIF and SCIC will join efforts in strengthening the strategic investment dialogue between Russia and Vietnam, aligning potential projects with national development priorities, industrial modernization and infrastructure development.
Minister of Finance Ngo Van Tuan and the Vietnamese delegation
RDIF and SCIC will focus on a number of sectors for investment cooperation, including transport, logistics, digital infrastructure, advanced technology, healthcare, LNG and gas-to-power projects as well as renewable energy, industrial production and many others.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“This agreement paves the way for the further expansion of Russia’s business ties with Vietnam, one of Russia’s major partners in Asia, with many successful joint projects and significant potential for expanding practical investment cooperation. Together with SCIC, we will focus on supporting long-term economic development and exploring new opportunities for businesses in both countries. We see strong prospects across a wide range of sectors that contribute to industrial growth, technological advancement, better transport connectivity and improved quality of life.”
Mr. Nguyen Chi Thanh, Chairman of the Board of Members of State Capital Investment Corporation (SCIC), said:
“The cooperation agreement between SCIC and RDIF marks a strategic milestone, helping to realize the longstanding traditional friendship between Vietnam and the Russian Federation and further advancing the Comprehensive Strategic Partnership between the two countries through tangible and substantive economic cooperation outcomes. Vietnam is currently one of the most dynamic and consistently growing economies in Southeast Asia, with strong demand for modern infrastructure development, digital transformation, green transition, and technological self-reliance. In this context, SCIC, as the State’s capital investment and management institution, will serve as a trusted partner and bridge for RDIF in Vietnam. We stand ready to work closely with RDIF to unlock new opportunities and jointly invest in strategic projects. Such cooperation will not only generate attractive financial returns for both organizations but also contribute directly to the sustainable development and shared prosperity of our two countries.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. Currently, RDIF has experience in the successful joint implementation of more than 100 projects with foreign partners totaling more than RUB 2.4 tn.
State Capital Investment Corporation (SCIC) was established and officially commenced operations in 2006.
SCIC was founded in the context of Vietnam’s policy to accelerate the restructuring, reform and enhancement of the operational efficiency and competitiveness of state-owned enterprises; to separate the State’s regulatory functions from its ownership representation functions in enterprises; and to transform the management of state capital from an administrative decision-making mechanism to an investment and business approach. Under this model, the State acts as a shareholder-investor, operating in accordance with the Law on Enterprises and on an equal footing with investors from all economic sectors.
From an initial portfolio of state capital holdings in enterprises transferred to SCIC valued at only VND 34.3 trillion, SCIC has increased the value of its current portfolio holdings to more than VND 192 trillion (equivalent to USD 7.6 billion), generated cumulative profits of VND 114.623 trillion (equivalent to USD 4.5 billion), and contributed VND 108.683 trillion (equivalent to USD 4.3 billion) to the State budget.
On 6th January 2026, the Politburo of the Socialist Republic of Vietnam issued Resolution No. 79-NQ/TW on the Development of the State Economy, which identifies as a key priority the continued restructuring of state capital in enterprises and the reform and reorganization of state-owned enterprises through a comprehensive restructuring of SCIC toward a professional state capital investment model, with a view to ultimately establishing a National Investment Fund.
