Vietnamese firms invested $183 million in overseas projects in the first five months of this year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Of these projects, 55 were newly registered with a combined capital of $98.3 million, meanwhile $84.8 million was added to the 14 pre-existing projects.
The majority of Vietnam’s overseas investment focused on science and technology ($81.9 million), the banking sector ($37.1 million), and the information and communications sector ($31 million).
The FIA said that during the January-May period, Vietnamese businesses poured their capital into 25 nations and territories.
With a $60-million project, Spain ranked first among these 25 nations and territories in terms of attracting the largest share of Vietnamese investment. It was followed by the US and Cambodia, with $44.3 million and $38 million, respectively.
To boost Vietnamese investment abroad, the agency was asked by enterprises to help them understand and apply the country’s official and non-official laws, mechanisms, and polices related to overseas investment, as well as the foreign investment attraction policies of recipients. VNA
Vietnam’s overseas investment has soared in traditional markets such as Laos and Cambodia as well as new markets of the US, Russia, and Singapore.
Vietnamese banks are stepping up plans to expand their markets globally instead of focusing only on the Indochinese region.
The first Overseas Vietnamese Economic Forum is scheduled to run on April 6 – 9 in Incheon, the Republic of Korea (RoK).