RDIF partners with Vietnam's SCIC to boost bilateral investment ties

RDIF partners with Vietnam's SCIC to boost bilateral investment ties

Russia's sovereign wealth fund and Vietnam's state investment arm have agreed to strengthen investment ties in infrastructure and industrial development.

Kirill Dmitriev, CEO of RDIF, and Nguyen Chi Thanh, chairman of the Board of Members of SCIC, exchanged the MoU on behalf of their respective organisations, witnessed by the Minister of Finance of Vietnam. Photo: SCIC

The Russian Direct Investment Fund (RDIF) and State Capital Investment Corporation (SCIC) will join efforts to strengthen strategic investment dialogue between the two countries, aligning potential projects with national development priorities, industrial modernisation, and infrastructure development. The announcement was made on the sidelines of the Russia–ASEAN Summit in Kazan on June 17.

RDIF and SCIC will focus on a number of sectors for investment cooperation, including transport, logistics, digital infrastructure, advanced technology, healthcare, liquefied natural gas, and gas-to-power projects as well as renewable energy, industrial production, and many others.

"This agreement paves the way for the further expansion of Russia's business ties with Vietnam, one of Russia's major partners in Asia," said Kirill Dmitriev, CEO of RDIF. "Together with SCIC, we will focus on supporting long-term economic development and exploring new opportunities for businesses in both countries. We see strong prospects across a wide range of sectors that contribute to industrial growth, technological advancement, better transport connectivity, and improved quality of life."

Nguyen Chi Thanh, chairman of the Board of Members of SCIC, said, "This cooperation agreement marks a strategic milestone, helping to realise the longstanding traditional friendship between Vietnam and the Russian Federation and further advancing the Comprehensive Strategic Partnership between the two countries through tangible and substantive economic cooperation outcomes."

"Vietnam is one of the most dynamic and consistently growing economies in Southeast Asia, with strong demand for modern infrastructure, digital transformation, green transition, and technological self-reliance," Thanh said.

"SCIC, as the state's capital investment and management institution, will serve as a trusted partner and bridge for RDIF in Vietnam. We stand ready to work closely with RDIF to unlock new opportunities and jointly invest in strategic projects. Such cooperation will generate attractive financial returns for both organisations while contributing directly to the sustainable development and shared prosperity of our two countries," he added.

VIR