Sunday, August 9 2020


SCIC plans higher revenue and profit

Update: February, 28/2020 - 16:02


The State Capital Investment Corporation (SCIC) plans higher revenue and profit for 2020. — Photo

HÀ NỘI — The State Capital Investment Corporation (SCIC) plans to achieve revenue of more than VNĐ6.9 trillion (US$298.5 billion) this year.

SCIC also plans to earn a profit before tax of VNĐ4.84 trillion and contribute VNĐ3.47 trillion to the state budget.

The plan was approved this week by SCIC’s managing agency the Committee for Management of State Capital at Enterprises (CMSC).

This year, SCIC will continue its tasks of restructuring and equitising State-owned enterprises (SOEs) and making them public on the local market.

Last year, SCIC divested 12 SOEs with revenue of VNĐ314 billion, earning VNĐ232 billion.

However, SCIC chairman’s Nguyễn Đức Chi said: “There are still many difficulties and obstacles to increase the number of successful capital-selling enterprises.”

Chi said: “There are many SOEs that are difficult to sell,” adding they failed many times in selling capital of large enterprises such as Vocarimex and Domesco.

Last year, SCIC achieved VNĐ6.76 trillion in revenue and more than VNĐ4 trillion in profit after tax.

Established in 2006 under the orders of the Prime Minister, SCIC acted as the State's representative at companies and is investing in key industries and sectors of the economy to reinforce the State's contribution to the economy with respect to market principles.

It is currently managing a portfolio of various companies that are operating in diversified industries of the economy, such as financial services, energy, industry and telecommunications, as well as construction, transportation, consumer goods, healthcare and IT. — VNS

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