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Viet Nam’s overseas investment exceeds US$350 million

VGP - Vietnamese investors invested nearly US$358.76 million in new and supplemental capital ventures abroad over the last seven months of the year, according the Ministry of Planning and Investment.

Posts Thuy Dung

July 29, 2022 3:55 PM GMT+7
Viet Nam’s overseas investment exceeds US$350 million  - Ảnh 1.

Their investments into new projects topped over US$313.8 million, 2.2 times higher than the same period last year, thanks to five new projects of Vines Energy Solutions JSC in the U.S., Canada, France, Germany and the Netherlands, with registered capital of nearly US$34.7 million each.

During the reviewed period, Viet Nam's firms pumped an additional US$44.9 million into operating projects, equivalent to 10.6 percent of the figure seen in the same period last year.

Large-scale projects included a Vingroup project in the U.S. which increased capital by US$300 million; an Indochina Rubber Investment and Development Co project in Cambodia which added US$76 million into its operations in the market and the US$32 million adjustment of the VinFast project in Germany.

The manufacturing and processing industry caught huge interest from Vietnamese investors as it saw eight newly-licensed projects worth US$204.4 million, making up 60.9 percent of the country's total outbound investment.

Banking, finance and insurance came next with four capital-added projects valued at nearly US$35.34 million or 9.8 percent of the total, followed by mining, wholesales and retail and information and communications.

A total number of 23 countries and territories received Vietnamese investment during the period. Of them, Laos took the lead with four new capital expansion projects worth a combined US$65.92 million, equal to 18.4 percent.

Singapore came second, luring in US$41.5 million, or 11.6 percent. The U.S., Germany and the Netherlands were the runners-up.

As of July 20, the Southeast Asian nation poured US$21.57 billion in 1,576 existing projects overseas.