Vietnamplus

The Prime Minister has appointed Nguyen Duc Chi as the new chairman of the State Capital Investment Corporation (SCIC).

The State Capital Investment Corporation (SCIC) has announced the sale of shares in more companies under a restructuring plan on its website.

The State Capital Investment Corporation (SCIC) has performed well in taking over State-owned enterprises and making efficient divestment in some enterprises, while making just a few new investments.

The State Capital Investment Corporation (SCIC) plans to sell the Government's stakes in 10 major State-owned enterprises.

Shares rose for a third day on October 19 after dairy producer Vinamilk said it will seek to sell its controlling government stake to foreign investors.

The SCIC targets to become a government strategic investor with total assets of 22.5 billion USD by 2020, as heard at a ceremony marking its 10th founding anniversary in Hanoi on October 19.

The upcoming divestment of State capital from 10 major companies is not likely to cause big impact on the market, said an official from the Finance Ministry.

The State Capital Investment Corporation has unveiled plans to sell the entire State capital of 10 big State-owned enterprises which could garner the State budget earnings of almost 4 billion USD.

The State Capital and Investment Corporation will sell all 11.7 million shares it held in the Vietnam Investment Construction and Trading Joint Stock Company.