Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue has approved a restructuring plan for the State Capital Investment Corporation (SCIC) by 2020.

The plan aims to improve the SCIC’s operations to accelerate the divestment of State capital at enterprises, promote the restructuring of State-owned enterprises and to help businesses use capital more effectively.

The SCIC focuses on investing and managing investment capital, representing State ownership at enterprises and continuing to re-organise, equitise and sell State capital invested in the businesses it has been handling.

Aside from those main tasks, the corporation invests in sectors, areas and projects promising economic benefits. It also provides consultancy services pertaining to investment, finance, governance, merger and acquisitions and business support services.

Under the plan, the SCIC’s internal governance system will be improved by fine-tuning regulations on internal governance and personnel work and re-organising its apparatus.

The corporation also aims to develop and manage its personnel in a systematic manner while stepping up personnel training. It will also enhance internal examination and improve transparency of investment, financial management, procurement, income distribution and personnel work.

The firm expects to stringently deal with loss-making enterprises and ineffective investment projects.-VNA