Business

State investment fund needed to attract foreign indirect investment

Vietnam needs to develop a state investment fund to attract foreign indirect investment as an additional source of capital for economic development, said Chairman of the State Capital Investment Corporation (SCIC) Nguyen Chi Thanh as quoted by Dau tu (Investment) Newspaper.
State investment fund needed to attract foreign indirect investment ảnh 1SCIC should be developed into a State-owned investor to compete with foreign investment funds. (Photo www.hanoimoi.com.vn)
Hanoi (VNS/VNA) - Vietnam needs to develop a stateinvestment fund to attract foreign indirect investment as an additional sourceof capital for economic development, said Chairman of the State CapitalInvestment Corporation (SCIC) Nguyen Chi Thanh as quoted by Dau tu (Investment) Newspaper.

The study for the foundation of a state investment fund hasrecently resumed with the goal that the investment would become one of the twocore business operations of SCIC.

The development strategy for 2030 and the restructuring projectwere being finalised before being submitted to the Prime Minister for approval,which would pave the way for the foundation of the state investment fund.

SCIC’s portfolio included 119 enterprises with a total Statecapital of 47.8 trillion VND out of more than 166 trillion VND charteredcapital.

SCIC reported a revenue worth 10.69 trillion VND in 2022,equivalent to 151% of 2021 and 135% of the plan, and an after-tax profit of 6.8trillion VND, nearly doubling the plan.

Thanh said the foundation of a state investment fund was necessaryas the corporation aims to expand investment with the focus firstly on keysectors of the economy following the Government’s requirements.

The state investment fund would help attract indirect investmentas an additional resource to promote economic development while the competitionin attracting capital gets fiercer.

Thanh cited statistics that Vietnam attracted only 5.15 billionUSD in foreign indirect investment in 2022, dropping by 25% against 2021.

This capital continued to fall strongly in January by 60.7% to 174million USD.

“It is necessary to have a state investment fund to open up the inflowof indirect investment,” Thanh stressed, adding that SCIC should be developedinto a State-owned investor to compete with foreign investment funds./.
VNA
#state investment fund #foreign indirect investment #economic development #Vietnam #Vietnamplus #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

SCIC reports 286 mln USD in pre-tax profit for 2020

SCIC reports 286 mln USD in pre-tax profit for 2020

The State Capital Investment Corporation (SCIC) announced on January 14 that its pre-tax profit soared over 36 percent in 2020, hitting an estimated 6.58 trillion VND (around 286 million USD).
SCIC pours up to 345.6 million USD in Vietnam Airlines

SCIC pours up to 345.6 million USD in Vietnam Airlines

The State Capital Investment Corporation (SCIC) plans to invest 8 trillion VND (approximately 345.6 million USD) in Vietnam Airlines JSC (HVN). The amount is equal to 25 percent of HVN’s charter capital.

See more

Processing dragon fruit for exports (Photo: VNA)

Overseas Vietnamese help Vietnamese products go global

In 2016, approximately 4.5 million Vietnamese were residing in 109 countries and territories. Today, the figures have risen to over 6 million and more than 130, respectively. Once focused on small-scale trade, many OV entrepreneurs now own major retail centres and operate extensive wholesale networks, boosting the availability of Vietnamese products abroad.

Illustrative image (Photo: VNA)

PM orders fast-track construction of Lao Cai - Hanoi - Hai Phong railway

The Minister of Construction was asked to work closely with local authorities to hasten land clearance, compensation, resettlement, site surveys, and the drafting of a feasibility study, which must be completed by June 2025, setting the stage for the project's groundbreaking on December 19, 2025.

LNG import operations at Thi Vai terminal. (Photo: VNA)

Vietnam cuts LNG import tariff to boost clean energy transition

The Vietnamese Government has reduced the preferential import tariff on liquefied natural gas (LNG) from 5% to 2% under Decree No. 73/2025/ND-CP, issued on March 31. The move marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.

Prime Minister Pham Minh Chinh chairs the meeting (VNA)

PM urges proactive engagement with US on trade talks

Trade negotiations with the US must be calm, consistent, and flexible, aiming to protect national sovereignty, security, and interests, while upholding international commitments and pursuing “balanced interests, shared risks," said Prime Minister Pham Minh Chinh.

Fisshing vessels in Quang Binh province (Photo: VNA)

Vietnam races against time to have EC’s "yellow card" lifted before Sept. 15

The Ministry of Agriculture and Environment particularly focused on resolving all EC concerns before September 15, the deadline for submitting a progress report to the commission, as well as ensuring thorough preparations for the fifth inspection so as to secure the removal of the “yellow card” warning.

The daily reference exchange rate for the US dollar is set at 24,960 VND/USD on April 29. (Photo: VNA)

Reference exchange rate down April 29

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,960 VND/USD on April 29, down 4 VND from April 28.

Investment in artificial intelligence surges eightfold compared to 2023 (Photo: VNA)

Investment in AI in Vietnam increases eightfold

Vietnam is entering a new phase of growth, where innovation, science, and technology are at the forefront of shaping its future. From being an emerging market, Vietnam has now risen to become a strategic destination for technology investment in Southeast Asia, driven by the aspirations of the entrepreneurial community and strategic guidance from the government

The talks between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Cambodian Minister of Commerce Cham Nimul on April 28 (Photo: VNA)

Vietnam, Cambodia seek ways to bolster economic, trade ties

Vietnam and Cambodia inked an agreement on promoting bilateral trade for the 2025–2026 period, which provides preferential tariffs for many competitive goods from each side – much more favourable than those under the ASEAN Trade in Goods Agreement (ATIGA).

President of Vietnam Luong Cuong (10th from left), Party General Secretary and President of Laos Thongloun Sisoulith (ninth from left), and officials of the two countries at the inauguration ceremony of Wharf No. 3 of Lao - Viet International Port on April 28 (Photo: VNA)

New wharf at Lao - Viet Int’l Port inaugurated

The launch of Wharf No. 3 of Lao - Viet International Port expected to help ensure infrastructure for socio-economic development in both Vietnam and Laos, meeting the increasing demand for goods transportation.