"The investment is pending a government decision," Dinh Viet Tung said by telephone, declining to give further details.
State broadcaster VTV cited Tung as saying that SCIC could invest up to 6.8 trillion dong ($293.44 million) to buy new shares. Vietnam Airlines is 86% owned by the government via the Commission for the Management of State Capital at Enterprises.
Vietnam Airlines last month reported a net loss of $453 million in the first nine months of this year due to the coronavirus pandemic.
($1 = 23,173 dong)
(This story corrects third paragraph to the government holds a controlling stake in Vietnam Airlines via the Commission for the Management of State Capital at Enterprises, not through SCIC)
(Reporting by Khanh Vu; Editing by Ed Davies)