SCIC Receives First-Class Labor Order and Celebrates 20 Years of Operation

Hanoi, 26 September 2026 – The State Capital Investment Corporation (SCIC) solemnly held a ceremony to receive the First-Class Labor Order and celebrate its 20th anniversary (2006–2026).

The ceremony was attended by Mr. Nguyễn Sinh Hùng, former Politburo Member and former Chairman of the National Assembly of the Socialist Republic of Viet Nam; Mr. Nguyễn Văn Thắng, Member of the Party Central Committee and Deputy Prime Minister; leaders and former leaders of the Party, State, National Assembly and Viet Nam Fatherland Front; representatives of central and local ministries, agencies and authorities; former SCIC leaders through different periods; representatives of diplomatic missions, international organizations, investment funds and SCIC’s capital representatives at enterprises; as well as leaders of corporations, general corporations, enterprises and banks that are SCIC’s partners.

Representing SCIC were Mr. Nguyễn Chí Thành, Secretary of the Party Committee and Chairman of the Board of Members; Mr. Nguyễn Quốc Huy, Deputy Secretary of the Party Committee, Member of the Board of Members and Chief Executive Officer; Members of the Board of Members, the Board of Management and the Supervisory Board, together with SCIC’s employees.

Mr. Nguyễn Chí Thành, Secretary of the Party Committee and Chairman of the Board of Members of SCIC, delivers the opening remarks

In his opening remarks, Mr. Nguyễn Chí Thành, Secretary of the Party Committee and Chairman of the Board of Members of SCIC, emphasized that the establishment and commencement of SCIC’s operations in 2006 represented an important policy decision by the Party and State, opening a new approach to the management and investment of state capital. It marked a gradual separation between the state management function and the exercise of state ownership rights, shifting from administrative management towards market-based investment and capital management.

Looking back on the past two decades, the Chairman of the Board of Members of SCIC noted that the Corporation has achieved cumulative profit before tax of VND 121.138 trillion, with an average annual return on equity of 13.2%. Its total contribution to the state budget exceeded VND 111 trillion, more than three times the value of state capital received. In 2025, SCIC’s consolidated profit before tax reached nearly VND 13.2 trillion, placing the Corporation among the five leading enterprises among corporations and groups for which the Ministry of Finance acts as the owner’s representative.

These results demonstrate SCIC’s effective and practical contribution to preserving and growing state capital and generating revenue for the state budget. Notably, in 2024 and 2025, SCIC ranked among the Top 20 and Top 15 largest state-owned enterprises in Viet Nam in terms of state budget contributions, respectively.

Of approximately 5,000 state-owned enterprises restructured and divested over the past 20 years, SCIC alone has carried out such activities at more than 1,000 enterprises. These efforts have made an important contribution to the restructuring of the state-owned enterprise sector, improving the efficiency of state capital utilization, promoting the development of the private sector, and supporting the development of the financial and securities markets and the broader economy.

SCIC has disbursed VND 64.037 trillion in investments in new opportunities and enterprises with strong growth potential, generating significant returns. The Corporation has also established cooperation relationships with more than 40 reputable organizations, financial institutions and sovereign wealth funds around the world, initially creating channels to attract international capital for investment in Viet Nam. A notable example is the mobilization of USD 570 million in cumulative disbursements through Vietnam Oman Investment Joint Stock Company.

SCIC’s resources have continued to grow. As of the end of June 2026, its equity exceeded VND 70 trillion, while the market value of its investment portfolio reached approximately VND 203 trillion (around USD 7.8 billion), placing SCIC among the leading large enterprises in Viet Nam. At the international level, SCIC has been included among state capital investment institutions classified as sovereign wealth funds (SWFs). In IE University’s Sovereign Wealth Funds 2026 report (Spain), SCIC ranked 59^th among 109 sovereign wealth funds by asset size.

Entering its third decade, SCIC is presented with a historic opportunity for transformation. Resolution No. 79-NQ/TW dated 6 January 2026 of the Politburo sets out the comprehensive restructuring of SCIC towards professional capital investment and management, with a view to developing it into a Sovereign Wealth Fund. Accordingly, SCIC will focus its resources on three key pillars: developing large-scale and highly efficient enterprises; investing in key and strategic sectors with a leading and pioneering role, as well as technology, innovation and digital transformation; and making direct investments, supporting state-owned enterprises in overseas investment, and undertaking mergers and acquisitions to access new and core technologies and strategic industries, or to pursue high-return opportunities.

The capital resources, investment experience, governance capabilities and partner network accumulated over the past two decades provide an important foundation for SCIC to pursue this direction. In the new phase, SCIC will focus on growing capital, mobilizing private and international resources, and supporting the development of competitive Vietnamese enterprises, thereby contributing to new growth drivers for the economy.

In implementation of Decision No. 1505/QĐ-TTg dated 6 August 2026 of the Prime Minister on the assignment of tasks and key targets under SCIC’s Development Strategy for 2026–2030, SCIC will focus on five key groups of solutions:

First, renewing its investment mindset and completing the institutional framework, shifting from “capital management” to “proactive investment and capital development”, with a view to establishing a Sovereign Wealth Fund; enhancing autonomy, transparency and accountability while clearly separating commercial investment activities from state-assigned tasks.

Second, restructuring the investment portfolio and focusing on strategic investments by classifying enterprises into those to be retained, restructured or divested; reallocating resources; accelerating capital receipt; retaining after-tax profits for reinvestment; and prioritizing investment in infrastructure, including transport, energy and digital infrastructure, as well as science and technology and strategic industries.

Third, strengthening the role of state capital as a catalyst and expanding international connectivity by developing fund-of-funds and co-investment platforms to serve as anchor capital, attracting private and international resources, and expanding cooperation with sovereign wealth funds and global financial institutions to connect capital with technology and management expertise under the principle of “National Resources – Global Connectivity”.

Fourth, strengthening governance and risk management, innovating the exercise of shareholder rights at major enterprises, adopting international financial governance standards, and applying internal audit and digital transformation to enable early risk identification.

Fifth, strengthening the organizational structure and developing human resources by streamlining the organizational apparatus, attracting and appropriately rewarding talent in line with Resolution No. 79-NQ/TW, and building a professional, disciplined and accountable investment culture.

Deputy Prime Minister Nguyễn Văn Thắng delivers remarks at the ceremony

Speaking at the ceremony, Deputy Prime Minister Nguyễn Văn Thắng stated that, 20 years ago, the establishment of SCIC represented an important reform decision in the process of restructuring and reforming the management of state capital at enterprises. For the first time, a specialized state economic organization was assigned responsibility for receiving and exercising state ownership rights, restructuring investments and managing capital based on market principles. This represented a concrete step towards gradually separating the state management function from the exercise of ownership rights and shifting from administrative management towards more professional and effective management of state capital and assets.

According to the Deputy Prime Minister, the past 20 years have demonstrated the perseverance, determination and innovative spirit of successive generations of SCIC leaders, officials and employees. From its early days, when SCIC had to simultaneously establish its organizational structure and operating mechanisms in an environment with few precedents, the Corporation gradually refined its model, accumulated experience and affirmed its role as an important state economic organization in capital investment and management.

From its initially modest capital base, SCIC has developed an investment portfolio with continuously increasing state capital value. Its capital investment activities have been effective, preserving and growing state capital while making significant contributions to the state budget over the years. The Corporation has also effectively performed its role in receiving, restructuring and improving the performance of numerous enterprises following equitization, while gradually expanding into new investments and strategic sectors, creating momentum and spillover effects for the economy. Corporate governance, risk management and financial transparency have received increasing attention and have become progressively aligned with international practices.

Deputy Prime Minister Nguyễn Văn Thắng stated that SCIC’s receipt of the First-Class Labor Order represented due recognition of the Corporation’s contributions to national development and was a shared honor for generations of its leaders, officials and employees.

On behalf of the Government and Prime Minister, the Deputy Prime Minister commended and highly appreciated the achievements SCIC has made over the past 20 years.

The Deputy Prime Minister emphasized that Viet Nam is entering a new stage of development, with a consistent focus on strengthening strategic autonomy, achieving rapid and sustainable growth, enhancing resilience and improving the competitiveness of the economy.

The demand for resources for strategic infrastructure, science and technology, innovation, digital transformation, green transformation and key sectors is substantial. In this context, state capital and assets need to be managed in a more concentrated manner, invested more professionally and effectively leveraged to play a catalytic and pioneering role in mobilizing social resources.

Resolution No. 79-NQ/TW of the Politburo on the development of the state-owned economy, Conclusion No. 18 of the second Plenum of the Party Central Committee, and the Government and Prime Minister have set out key requirements for state-owned enterprises: to undertake strong reforms, maintain their pioneering and leading role in the economy, and comprehensively review and restructure the Corporation’s operating model towards professional capital investment and management, with a view to establishing a Sovereign Wealth Fund.

This is not only a requirement to concretize the major policies of the Party and State, but also an inherent requirement of the Corporation and an objective demand arising from the country’s economic development in the new period.

To successfully accomplish this important mission, Deputy Prime Minister Nguyễn Văn Thắng called on SCIC to focus on several key tasks.

First, proactively and effectively implement the investment and business plan assigned by the Prime Minister under Decision No. 1505, directly linked to the objective of achieving double-digit economic growth during 2026–2030 in accordance with Conclusion No. 18 of the Party Central Committee.

SCIC should prioritize the allocation, mobilization and disbursement of capital for key national projects and programs and new growth drivers, while enhancing its role as an effective channel for state capital to unlock resources and stimulate social investment, contributing to the country’s high and sustainable growth objectives.

Second, urgently complete the organizational model and operating mechanisms towards a Sovereign Wealth Fund with flexible and effective capital investment and management functions. SCIC should study and propose sufficiently strong special mechanisms and policies to enable the Corporation to act proactively and creatively in market-based investment activities, without being constrained by an administrative management mindset.

Third, develop and apply advanced financial governance and modern risk management models, with transparency aligned with international financial reporting and disclosure standards. SCIC should accelerate digital transformation and the application of technology in investment portfolio management, analysis and decision-making.

Fourth, expand and improve the quality of investment activities, prioritizing strategic sectors, foundational industries, high technology, energy, infrastructure and areas with significant spillover effects on the economy. At the same time, SCIC should study and expand investment cooperation with major investment funds and financial institutions in the region and around the world.

Fifth, focus on developing high-quality human resources and attracting and retaining talented finance and investment professionals with vision and determination to meet the requirements of a regional and international Sovereign Wealth Fund.

Sixth, strengthen financial discipline and fiscal discipline, practice thrift, prevent and combat corruption, waste and misconduct, and uphold the political integrity and professional ethics of officials and Party members throughout the Corporation.

“Over the past 20 years, SCIC has built its foundations and affirmed its position. The road ahead presents higher requirements, but also opens up opportunities for the Corporation to continue and elevate its mission,” the Deputy Prime Minister emphasized, expressing his confidence that, with its tradition of solidarity, determination, expertise, aspiration for innovation and accumulated experience, SCIC will successfully fulfill its assigned tasks and make a worthy contribution to Viet Nam’s double-digit economic growth and rapid and sustainable development in the new era.

On behalf of the Party and State leaders, Deputy Prime Minister Nguyễn Văn Thắng presents the First-Class Labor Order to SCIC

Deputy Prime Minister Nguyễn Văn Thắng presents the Second-Class Labor Order to Mr. Nguyễn Chí Thành, Chairman of the Board of Members, and Mr. Nguyễn Quốc Huy, CEO of SCIC; and the Third-Class Labor Order to Mr. Đinh Việt Tùng, Deputy CEO of SCIC

Mr. Nguyễn Quốc Huy, Deputy Secretary of the Party Committee, Member of the Board of Members and Chief Executive Officer of SCIC, delivers the closing remarks at the ceremony

Speaking at the closing of the ceremony, Mr. Nguyễn Quốc Huy, Deputy Secretary of the Party Committee, Member of the Board of Members and Chief Executive Officer of SCIC, expressed his sincere appreciation to Party and State leaders and all delegates attending the ceremony, while affirming SCIC’s serious commitment to implementing the directions provided by Deputy Prime Minister Nguyễn Văn Thắng.

In the coming period, SCIC will mobilize all resources to undertake comprehensive restructuring towards professional capital investment and management and transform its operating model towards the establishment of a Sovereign Wealth Fund, in accordance with Resolution No. 79-NQ/TW of the Politburo, Conclusion No. 18-KL/TW of the Party Central Committee and Decision No. 1505/QĐ-TTg of the Prime Minister.