Vietnam's SCIC, Russia's RDIF Forge Investment Pact on Infrastructure, Tech

The Russian Direct Investment Fund (RDIF) and Vietnam’s State Capital Investment Corporation (SCIC) have signed a Memorandum of Understanding to enhance bilateral investment, focusing on national development priorities, industrial modernisation, and infrastructure.

The agreement was formalized on June 17 on the sidelines of the Russia–ASEAN Summit in Kazan. Kirill Dmitriev, CEO of RDIF, and Nguyen Chi Thanh, Chairman of the Board of Members of SCIC, exchanged the MoU in a ceremony witnessed by Vietnam's Minister of Finance.

The collaboration will target a broad range of sectors, including transport, logistics, digital infrastructure, and advanced technology. The two state-backed funds will also explore opportunities in healthcare, liquefied natural gas, gas-to-power projects, renewable energy, and industrial production.

"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. "Together with SCIC, we will focus on supporting long-term economic development and exploring new opportunities for businesses in both countries." He added that RDIF sees "strong prospects" in sectors that contribute to industrial growth, technological advancement, and transport connectivity.

Nguyen Chi Thanh described the pact as a "strategic milestone" that helps realise the "longstanding traditional friendship" between the nations and advances their Comprehensive Strategic Partnership 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 stated.

He affirmed that SCIC would serve as a "trusted partner and bridge for RDIF in Vietnam." Thanh added, "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."