The State Capital Investment Corporation (SCIC) was established in 2005 to exercise the state's ownership in all equitized and transformed enterprises and further divesting from assets transferred to its portfolio. Its foundation occurred in the context of Vietnam’s push for reform its economy and SOEs. SCIC is in the process of optimizing its portfolio and fundraising capital: from 2017 to May 2019, it divested from 51 enterprises, and it is planning to divest from 85 more in 2020.