Hanoi (VNS/VNA) - TheState Capital Investment Corporation (SCIC) has targeteddisbursing investment of 13-16 trillion VND (561-690 million USD) annually to focus capital on keyindustries and sectors to promote economic growth.

SCICgeneral director Nguyen Chi Thanh said this is the SCIC's investmentstrategy for 2020-25 and toward 2035 to complete its goal of becoming theGovernment’s strategic investor.

"Atpresent, the SCIC is studying investing in some key State-owned projects thatneed capital such as Long Thanhairport, North-South expressway, Vietnam Airlines and PVGas and buying sharesat some big banks and enterprises," Thanh told To quoc (Fatherland)newspaper.

Thanh said after the corporation basicallycompletes its tasks of receiving andrestructuring State-owned enterprises, it will focus on investment activities from 2020 toboost domestic and overseas investment.

TheSCIC will seek investment opportunities in the domestic economy and localenterprises and disburse investment to key economic sectors that need Statecapital, he said.

Thesectors also include high technology, digital economy, energy, high-techagriculture, key infrastructure projects, finance and banking.

Thecorporation has targeted investing 82 trillion VND in those sectors until 2025.

Inaddition, with experience in investment and business over the past 14years, the SCIC will seek investment from the private sector and foreigninvestors for enterprises it manages.

Toreach the goals, Deputy Prime Minister Truong Hoa Binh has directed ministries and sectors tohave solutions to remove difficulties of the SCIC in investment.

TheSCIC has also proposed the State have specific mechanisms and policies insteadof general regulations for State-owned enterprises, including regulations forappraising investment opportunities, making investment decisions, managingpost-investment and evaluating investment efficiency.
TheSCIC will continue to perfect systems of regulations and processes relating toinvestment management, Thanhsaid.

TheSCIC has submitted to the Government to get approval for its developmentstrategy for 2020-2025 and toward 2035.

Afterreceiving approval, the corporation will review and complete the current legalsystem on the operation of a governmental investment fund.

Thanh said the SCIC has also proposed theGovernment approve charter capital of 50 trillion VND and a roadmap for increasing chartercapital to promote investment activities, achieving its business goals.

Thecorporation will promote training and build mechanisms to attract experts inthe management of investment funds and key industries. Those activities willsupport it to develop investment activities in the future.

Sinceits establishment in 2006, the SCIC has disbursed total investment of nearly 28.5trillion VND in business and production atthe enterprises. The corporation has gained efficiency in those investmentactivities to increase State capital. Its return on equity (ROE)in 2006-19 was 13 percent./.