SCIC reports US$286 mln in pre-tax profit for 2020

The State Capital Investment Corporation (SCIC) announced on January 14 that its pre-tax profit soared over 36% in 2020, hitting an estimated VND6.58 trillion (around US$286 million).

The corporation posted revenue of over VND7.94 trillion, up 15%.

It contributed over VND9.33 trillion to the State budget, 2.7 times higher than the annual plan.

General Director Nguyen Chi Thanh revealed the plans set by the corporation for 2021, saying it will give priority to considering investment possibilities in a number of key sectors, fields, and projects, while ensuring its financial capacity and investment effectiveness in accordance with market principles.

The divestment of State capital in the SCIC’s enterprises was implemented in line with legal regulations, ensuring publicity and transparency, achieving high efficiency, and preserving and developing State capital, Thanh said.

It successfully sold stakes in 253 companies in the 2015-2020 period and part of shares in 14 others, collecting over VND42.1 trillion.

Its investment disbursement has totalled VND14.97 trillion over the last five years.