A solar power project in Binh Thuan Province. SCIC would promote investment to alternative energy projects in the future.

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

"At present, the SCIC is studying investing in some key State-owned projects that need capital such as Long Thanh airport, North-South expressway, Vietnam Airlines and PVGas and buying shares at some big banks and enterprises," Thanh told Tổ quốc (Fatherland) newspaper.

Thanh said after the corporation basically completed its tasks of receiving and restructuring State-owned enterprises, it would focus on investment activities from 2020 to boost domestic and overseas investment.

The SCIC will seek investment opportunities in the domestic economy and local enterprises and disburse investment to key economic sectors that need State capital, he said.

The sectors also include high technology, digital economy, energy, high-tech agriculture, key infrastructure projects, finance and banking.

The corporation has targeted investing VND82 trillion in those sectors until 2025.

In addition, with experience in investment and business over the past 14 years, the SCIC will seek investment from the private sector and foreign investors for enterprises it manages.

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

The SCIC has also proposed the State have specific mechanisms and policies instead of general regulations for State-owned enterprises, including regulations for appraising investment opportunities, making investment decisions, managing post-investment and evaluating investment efficiency.

The SCIC will continue to perfect systems of regulations and processes relating to investment management, Thanh said.

The SCIC has submitted to the Government to get approval for its development strategy for 2020-2025 and toward 2035.

After receiving approval, the corporation will review and complete the current legal system on the operation of a governmental investment fund.

Thanh said the SCIC has also proposed the Government approve charter capital of VND50 trillion and a roadmap for increasing charter capital to promote investment activities, achieving its business goals.

The corporation will promote training and build mechanisms to attract experts in the management of investment funds and key industries. Those activities will support it to develop investment activities in the future.

Since its establishment in 2006, the SCIC has disbursed total investment of nearly VND28.5 trillion in business and production at the enterprises. The corporation has gained efficiency in those investment activities to increase State capital. Its return on equity (ROE) in 2006-19 was 13 per cent.  VNS

Economists: speed up public investments

If the huge capital for public investment can be brought into the economy, Vietnam would be able to save GDP growth.

Why disbursements of public investment in Vietnam are slow?

The sluggish disbursement of public investment is attributable to the combination of three major factors.