Long Hoang Luu

State Capital Investment Corp. (SCIC) is a wholly-owned special economic organization of the Vietnamese Government which was established in 2005 by the Prime Minister of Vietnam to manage and invest state capital in Vietnam's state-owned enterprises and undertake strategic investments in key industries. Located in Hanoi and Ho Chi Minh City, SCIC's primary objectives are to facilitate state-owned enterprise reforms and improve the efficiency of the State's capital utilization. SCIC is mandated to represent State capital interest in various types of businesses and to invest in key sectors with an aim to enhance the dominant economic role of the State subject to market rules. SCIC aims to concentrate investment in key and strategic branches and domains which are a driving force in boosting economic development, paying attention to investment in fruitful and highly profitable branches and domains and reducing investment in branches and domains which the State does not need to control as well as branches and domains which are capable of attracting resources from other economic sectors. SCIC manages a portfolio of SOEs in a range of sectors including financial service, energy, industry, telecommunications, transportation, consumer products, health care, and information technology.