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Vietnam's SCIC: A gradualist approach to sovereign wealth funds

Author

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  • DT Nguyen
  • Tran-Phuc Nguyen
  • Jeremy Nguyen

Abstract

Vietnam's State Capital Investment Corporation (SCIC) was established in 2005, with the primary goal of helping the authorities to make, under market conditions, the most of state capital investments in business enterprises. To date, SCIC has had to grapple mainly with facilitating the ‘equitization’ (that is privatization) of large numbers of state-owned enterprises. As yet it is still too early to make a firm assessment of SCIC's performance with regard to either of the above objectives. Nevertheless, a discernable picture has begun to emerge, in which SCIC appears to have been a typical example of Vietnam's gradualist approach in transitioning to a more market-oriented economic system: the pace of change may have been slow and uneven, but there are clear indications of movements toward the end goal.
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Suggested Citation

  • DT Nguyen & Tran-Phuc Nguyen & Jeremy Nguyen, 2011. "Vietnam's SCIC: A gradualist approach to sovereign wealth funds," Discussion Papers in Economics economics:201110, Griffith University, Department of Accounting, Finance and Economics.
    • Handle: RePEc:gri:epaper:economics:201110
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    File URL: https://research-repository.griffith.edu.au/bitstream/handle/10072/390320/2011-10-vietnams-scic-a-gradualist-approach-to-sovereign-wealth-funds.pdf
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    Cited by:

    1. Bahoo, Salman & Alon, Ilan & Paltrinieri, Andrea, 2020. "Sovereign wealth funds: Past, present and future," International Review of Financial Analysis, Elsevier, vol. 67(C).
    2. Kubo, Katsuyuki & Phan, Huu Viet, 2019. "State ownership, sovereign wealth fund and their effects on firm performance: Empirical evidence from Vietnam," Pacific-Basin Finance Journal, Elsevier, vol. 58(C).

    More about this item

    Keywords

    State Capital Investment Coproration (SCIC); sovereign welath fund (SWF); state-owned enterprise (SOE); Vietnam; economic transition;
    All these keywords.

    JEL classification:

    • H69 - Public Economics - - National Budget, Deficit, and Debt - - - Other
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • H82 - Public Economics - - Miscellaneous Issues - - - Governmental Property
    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance

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