Vietnam Investment Arm, Kuwait's State Fund Boost Cooperation
The State Capital Investment Corporation (SCIC), Vietnam’s investment arm, and Kuwait’s State Investment Fund (KIA) inked a memorandum of understanding (MoU) last week to enhance the bilateral cooperation in attracting Kuwai’s investment into Vietnam.
The singing was witnessed by Vietnam Prime Minister Nguyen Tan Dung and his Kuwaiti counterpart Sheikh Nasser Al-Mohammed Al-Ahmed Al-Sabah in Kuwait.
SCIC and KIA will build up partnership to boost privatization of Vietnamese state-run enterprises, property development, infrastructure projects and other related fields.
KIA, set up in 1982 in charge of managing Kuwait’s assets, is aimed to take profitability from long-term investment for the Kuwaiti government to ease the dependence on oil reserve.
SCIC, meanwhile, is managing state capital in 805 partly privatized companies as the end of 2008. (Securities Investment)
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