USTDA Grant Supports State Capital Investment Corporation Of Vietnam

The U.S. Trade and Development Agency (USTDA) On August 3 awarded a USUS$453,400 grant to Vietnam’s State Capital Investment Corporation (SCIC). The grant agreement was signed at the SCIC’s office in Hanoi by U.S. Ambassador to Vietnam Michael W. Marine and Mr. Hoang Nguyen Hoc, Chief Executive Officer, on behalf of the U.S. and Vietnamese governments, respectively.

 

The grant will help the SCIC to identify the financial and technology systems necessary to promote market reform and economic growth in Vietnam. The USTDA-funded work will assess SCIC’s business needs, identify the corresponding specifications to support those requirements, and prepare the bidding documents for the procurement of the recommended systems and services.

 

The USTDA advances economic development and U.S. commercial interests in developing and middle-income countries by funding technical assistance, analysis, training, visits and workshops that support the development of a modern infrastructure and a fair and open trading environment.

 

The SCIC, established in 2006, is the government shareholder in the State-owned-enterprises and responsible for monitoring and investing its capital based on market mechanisms, and promoting strategies in support of market development and economic growth in Vietnam. (US Embassry Press Release)