This is the direction of Deputy Prime Minister Nguyen Chi Dung when attending and giving a speech at the SCIC Party Congress on the morning of June 27.
Join hands to transform investment model
During the 2020-2025 term, the SCIC Party Committee has closely led and directed, comprehensively and effectively implemented the political tasks assigned by the Party, State and Government, especially in restructuring, innovating and improving the operational efficiency of SCIC.
At the same time, the SCIC Party Committee led the Corporation to focus on developing institutions, policy mechanisms, and removing difficulties and obstacles to create a legal corridor to promote capital investment and business activities. The results of implementing financial targets for the period 2021-2025 all grew strongly, exceeding the set plan with total revenue reaching 47,005 billion VND, after-tax profit reaching 41,589 billion VND, positively contributing to the state budget with a total value of up to 43,641 billion VND.
The comprehensive ideological leadership role of the SCIC Party Committee is clearly affirmed, decisive and is the foundation for SCIC to effectively carry out its business tasks.
Entering a new phase, SCIC determined that in addition to continuing to receive, manage, equitize and sell capital, the Corporation must shift its focus to capital investment and business activities, aiming to become a financial investment organization with the leading equity scale in Vietnam.
To adapt to reality, SCIC will gradually transform its operating model into a professional financial investment organization model, the Government's investment channel into the economy. At the same time, it will promote research and application of scientific and technological advances in investment management and capital trading. Accordingly, research, application and strong and reasonable investment in the fields of digital transformation and artificial intelligence (AI) in investment management and capital trading will be associated with reform. Optimize business processes, ensure transparency and efficiency in business administration.
In promoting the implementation of capital investment, SCIC prioritizes ensuring sufficient financial and management resources, focusing on investing in infrastructure projects, large and important projects, innovation projects, digital transformation, economic restructuring, macroeconomic stabilization, investing in key industries and fields that are leading and paving the way for other economic sectors to develop together, in line with the orientation of the Socio-Economic Development Strategy.
Government tools to support the restructuring of state-owned enterprises
According to Deputy Prime Minister Nguyen Chi Dung, the 4th SCIC Party Congress for the 2025-2030 term is an important event, not only to evaluate the results of the Party Committee's leadership and direction in implementing political tasks in the past term, but also to provide an opportunity for the Corporation's Party Committee to determine the direction, goals, tasks and solutions for the next 5 years. This will be a pivotal stage to gradually enhance the Corporation's position and role, aiming to transform its operating model, becoming a leading financial investment organization with the largest equity capital in Vietnam, and a professional investment channel of the Government to fulfill its mission of contributing to the country's socio-economic development.
"In the context of many unpredictable factors in the world and in the country, I acknowledge and commend the achievements of the Corporation in the past term," the Deputy Prime Minister shared.
However, in addition to the achieved results, the Deputy Prime Minister pointed out 4 remaining issues and limitations: (1) Coordination with ministries, branches and localities in capital handover is still not good, leading to the target of receiving State capital during the term and the target of equity growth in the past time being lower than in previous terms; (2) The current scale of SCIC is about 3 billion USD, still modest compared to enterprises in the same industry and field in the region, especially when compared with Temasek of Singapore or Khazanah of Malaysia; (3) There are not many key projects and works with imprints to unlock resources, mobilize the role of SOEs in general and SCIC in particular in the socio-economic development of the country; (4) Cooperation and coordination between SCIC and corporations and state-owned corporations in searching, approaching, evaluating investment opportunities and jointly conducting investment activities are generally limited.
"The Corporation is not only a business unit but also a tool of the Government to support the restructuring process of state-owned enterprises, focusing on using state resources more effectively and reasonably," the Deputy Prime Minister emphasized and requested SCIC to review, proactively and boldly propose to the Central Government directions and solutions to effectively carry out this task.
The draft Resolution of the Politburo on the development of state-owned enterprises is being urgently developed and completed. The Deputy Prime Minister said that the upcoming orientation is to develop a number of large corporations and general companies on par with regional and international corporations and general companies.
Therefore, the Party Committee of the Corporation needs to clearly define its goals and tasks in the coming period; to lead and direct the two economic and political tasks in parallel in the new context full of challenges and fluctuations. This is also an opportunity for the Corporation to break through and rise up.
Prioritize and pioneer investment in strategic technology industries
During the 2025 - 2030 term, the Deputy Prime Minister requested that the SCIC Party Committee focus on leading and directing the good implementation of a number of key contents.
Firstly, focus on doing well the work of Party building, improving the leadership capacity and fighting strength of the entire Party Committee; constantly pay attention to building a clean and strong Party organization in terms of ideology, politics, organization, inspection and mass mobilization, considering this a key task, ensuring the victory of the renovation cause; pay attention to the work of Party development associated with improving the quality of Party members. Strengthen the work of inspection and supervision of Party organizations and Party members; synchronously carry out the work of building a clean and strong Party organization with building the culture of the Corporation.
Second, lead and direct research and propose the completion of an operating model in line with the Corporation's Development Strategy for the period up to 2030, with a vision to 2035, approved by the Prime Minister. It is necessary to quickly put the Corporation into operation according to the model of a professional financial investment organization, as a tool and channel for the Government's capital investment in the economy.
In the future, we will move towards establishing a Government Investment Fund to carry out development investment activities, promote innovation and create growth momentum for the economy, similar to many other countries such as Singapore's Temasek or investment funds of the Gulf countries.
At the same time, proactively advise and propose to perfect the Corporation's operating institutions, in accordance with the Law on State Capital Management and Investment in Enterprises recently passed by the National Assembly.
Third, in terms of investment orientation, SCIC needs to invest capital in large and important infrastructure projects of the country; innovation, digital transformation, green transformation projects; strategic industries and fields of the future with a mindset of foreseeing needs and opportunities in the medium and long term. From there, it can reach out to compete in the regional and international markets.
Regarding investment methods, in addition to investing in existing enterprises in the portfolio, SCIC needs to promote investment as a financial investor, investing according to market mechanisms, aiming at the efficiency of short- and medium-term investments, ensuring flexibility in the face of market fluctuations to develop State capital and assets.
On June 12, the Prime Minister signed a Decision to promulgate a list of 11 strategic technology groups with 35 strategic technology product groups. According to the Deputy Prime Minister, SCIC needs to pay attention, prioritize closely following and pioneering investment in these strategic industry groups.
Fourth, continue to lead the completion and improvement of internal management capacity, apply international standards on management, capital investment, complete the system of internal regulations, monitoring processes, and risk control; continue to train, foster and improve the quality of the Corporation's human resources, ensure quality, professionalism, thinking and vision, and meet the requirements of the tasks set forth in the coming period.
In addition, the Deputy Prime Minister noted that one of the important tasks of the Congress is to contribute opinions to the documents of the 14th National Party Congress and the documents of the 1st Government Party Congress, term 2025-2030, and to elect a delegation to attend the 1st Government Party Congress.
Immediately after the Congress, the Party Committee needs to urgently organize the dissemination and concretization of the Resolution into an Action Program for implementation; at the same time, assign and assign specific responsibilities to each individual and unit; promptly commend, encourage and replicate good models and good practices, promote advantages, overcome difficulties, and successfully complete the set targets and tasks.
"Our country is entering a new era, an era of national growth with new challenges, new opportunities and aspirations for rapid and sustainable development, building an independent and self-reliant economy with high resilience and adaptability. The State Capital Investment Corporation is also one of the factors playing an important role in realizing that aspiration," the Deputy Prime Minister affirmed./.
Source: https://baolangson.vn/scic-phai-tro-thanh-qua-dam-thep-cua-nen-kinh-te-5051400.html
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