SCIC meaning in Business ?

Answer:

What is State Capital Investment Corporation mean?

The State Capital Investment Corporation (SCIC) is a state-owned holding company considered a National Wealth Fund of Vietnam. It was established on 20 June 2005 under the mandate of Prime Minister Phan Văn Khải as part of a range of reforms aimed at enhancing the efficiency of state capital utilisation.

SCIC was created was to reduce investment in domestic companies and government divisions in the Vietnamese government, and to diversify their holdings. The SCIC has a chartered capital base of about VND 5 trillion (equivalent to $315 million). The SCIC commenced operation in August 2006, and as of 30 May 2012 has around 416 linked firms in their portfolio.

reference

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