Will Hanoi have its own SCIC?

A plan to establish the Hanoi State Capital Investment Corporation (HSCIC), which aims to improve the efficiency of the state’s business capital, has been submitted to the city’s leaders.

Hanoi Finance Department Director Nguyen Thi Ha Ninh confirmed the news.

Ninh commented that the Finance Department has joined forces with the city’s Investment and Development Fund to set up the city’s SCIC to allow Hanoi to use state capital in the most effective way.

According to Ninh, the State does not directly manage enterprises, so it needs to do so via an enterprise representing the State.

Therefore, Ninh explained, Hanoi is trying to reorganize and rearrange enterprises in the city to implement enterprise management laws.

HSCIC will be a legal entity representing the State in enterprises and in decisions about state capital. The corporation will also aim to improve competitiveness.

Hanoi People’s Committee Chair Nguyen The Thao has received the plan from the Finance Department. Thao revealed that the city’s Party leaders will consider the plan.

In 2005, the Government decided to set up the State Capital Investment Corporation (SCIC) which belongs to the Ministry of Finance, to manage and invest state capital in enterprises nationwide.

vietnamnet, Thoi bao kinh te Vietnam

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