Vietnamese firms step up outbound investment

Total outbound Vietnamese investment reached 431.7 million USD in the first nine months of this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Vietnamese firms step up outbound investment hinh anh 1

Total outbound Vietnamese investment reached 431.7 million USD in the first nine months of this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The largest share of Vietnamese investment was poured into wholesale and retail sector, and auto and motorbike repairs with 110.6 million USD, accounting for 25.6 percent of the total.

Coming second was science-technology with 83.4 million USD), followed by agriculture-forestry-fishery (64.1 million USD) and real estate (56.9 million USD).

Among the 30 countries and territories where Vietnamese investors landed during the period, Australia was the largest recipient with 140.6 million USD, making up 32.6 percent of the sum.

Other major destinations for Vietnamese investment included the US (59.9 million USD), Spain (59.8 million USD), Cambodia (50.6 million USD) and Singapore (35.6 million USD).

Vietnamese investors have also made efforts to gain footholds in promising markets in the Southeast Asian region.

Vietnamese investment in Cambodia in the first seven months topped 38.5 million USD, equivalent to the accumulative registered capital of the entire 2018, the Ministry of Planning and Investment revealed at the 17th meeting of the Vietnam-Cambodia Joint Committee on Cooperation in Economy, Culture and Science-Technology in Phnom Penh on August 21.

 

Cambodia ranks third among the 76 countries and territories where Vietnamese investors have been active. Vietnam is running 214 projects valued at 3.2 billion USD in the neighbouring country.

Vietnam is Cambodia’s fifth largest investor, after China, Thailand, the Republic of Korea and Japan, with capital mainly channeled into agriculture and forestry (2.1 billion USD), finance, banking and insurance (370.1 million USD) and telecom services (204.3 million USD).

Other spheres like aviation, mining, processing and manufacturing, warehouse services, health care, construction, tourism, hotels and real estate have also attracted Vietnamese firms.

About half of the total registered capital (1.5 billion USD) has to date been disbursed, and many projects are operational and generating profits.

Laos has lured the largest amount of Vietnamese investment over the years with 4.8 billion USD, while Russia is second with 2.8 billion USD.

Apart from Laos and Cambodia, Vietnamese businesses have highly valued prospects in Myanmar where they have invested in about 200 projects.

During his visit to Myanmar last June, Deputy Prime Minister Vuong Dinh Hue said the country could become a strategic market, and suggested Myanmar create favourable conditions and ensure a safe environment for Vietnamese firms to operate.

Hoang Anh Gia Lai Group, the Bank for Investment and Development of Vietnam (BIDV), national flag carrier Vietnam Airlines, Viettel Military Industry and Telecom Group (Viettel) and FastGo, a ride-hailing start-up, are among the Vietnamese businesses to have made investment in Myanmar./.VNA

 
 

Other News

.
Red boards with this phrase appear densely on Hanoi streets
Red boards with this phrase appear densely on Hanoi streets
BUSINESSicon  05/10/2021 

“Shop for rent”, “space for rent”, “house for rent”, … are the phrases that appear most on the streets of Hanoi after two months of social distancing.

Ministry forecasts Vietnam’s GDP growth this year at 3%-3.5%
Ministry forecasts Vietnam’s GDP growth this year at 3%-3.5%
BUSINESSicon  05/10/2021 

The Ministry of Planning and Investment has projected the country’s gross domestic product (GDP) growth in 2021 at 3%-3.5%, down 0.5 percentage points from the rate forecast in September.

Businesses reopen in HCM City, but challenges remain
Businesses reopen in HCM City, but challenges remain
BUSINESSicon  05/10/2021 

After months of social distancing the reopening of the HCM City economy on October 1 has brought cheer to both businesses and the public.

VIETNAM BUSINESS NEWS OCTOBER 5
VIETNAM BUSINESS NEWS OCTOBER 5
BUSINESSicon  05/10/2021 

 Project aims to enhance trade remedy capacity as Vietnam joins new-generation FTAs

Hanoi removes 28 administrative procedures in investment
Hanoi removes 28 administrative procedures in investment
BUSINESSicon  05/10/2021 

Hanoi’s authorities have decided to remove 28 administrative procedures in the field of investment.

VIETNAM BUSINESS NEWS OCTOBER 4
VIETNAM BUSINESS NEWS OCTOBER 4
BUSINESSicon  04/10/2021 

Vietnam develops rural tourism through digital transformation

Construction ministry proposes legal amendment to prevent 'land fever'
Construction ministry proposes legal amendment to prevent 'land fever'
BUSINESSicon  05/10/2021 

Many real estate brokers lack professional knowledge and ethics and do ‘hit and run’ business, causing losses to customers by giving wrong advice or even cornering the market and causing artificial land fever.

Vietnam warned of serious air pollution in motorization period
Vietnam warned of serious air pollution in motorization period
FEATUREicon  05/10/2021 

Vietnam is about to enter the motorization period when the market will boom and the air will become polluted. Policies on restricting the use of old-technology vehicles and encouraging green, clean vehicles are needed.

Focus turns to stamping out hotbeds, greening the economy
Focus turns to stamping out hotbeds, greening the economy
FEATUREicon  05/10/2021 

The acceleration of vaccinations will help restore production and business activities, and expand green production zones and a green workforce for the economy.

Quality workforce – “bottleneck” of support industry firms
Quality workforce – “bottleneck” of support industry firms
BUSINESSicon  04/10/2021 

The shortage of high-quality workforce is a “bottleneck” faced by domestic support industry enterprises, said economists.

As migrant workers leave cities, who will save businesses?
As migrant workers leave cities, who will save businesses?
FEATUREicon  04/10/2021 

Thousands of migrant laborers have returned to their hometowns to avoid the pandemic, leaving behind city dreams. The consequence is that enterprises lack workers to restore production in the "new normal".

Basa fish industry in the Mekong Delta hit hard by social distancing
Basa fish industry in the Mekong Delta hit hard by social distancing
BUSINESSicon  04/10/2021 

As of mid-September, basa harvesting is estimated at 932,000 tonnes, only 81.1 per cent of the same period last year.

Vietnamese manufacturing hit by pandemic
Vietnamese manufacturing hit by pandemic
BUSINESSicon  04/10/2021 

The Vietnam Manufacturing Purchasing Managers' Index (PMI) remained at 40.2 in September.

HCM City businesses propose support policies
HCM City businesses propose support policies
BUSINESSicon  04/10/2021 

Businesses in HCM City have called for support policies to help them revive operations after disruption caused by the COVID-19 pandemic.

Vietnamese ICT businesses benefit from digital consumption
Vietnamese ICT businesses benefit from digital consumption
BUSINESSicon  04/10/2021 

Vietnamese ICT enterprises have benefited greatly from the fast digitalisation trend, with their revenues rising despite the COVID-19 pandemic.

Vietnam’s economy to slow as population ages: WB report
Vietnam’s economy to slow as population ages: WB report
BUSINESSicon  04/10/2021 

Population aging could slow down Vietnam's long-term growth in the 2020–2050 period by 0.9 percentage points compared with the last 15 years, a new World Bank (WB) report finds.

Millions of US dollars poured into green growth projects
Millions of US dollars poured into green growth projects
BUSINESSicon  03/10/2021 

Capital flows into green growth projects have still seen positive signals despite adverse impacts from the COVID-19 pandemic on foreign direct investment (FDI) in Vietnam.

Vietnam likely to attain trade surplus in 2021
Vietnam likely to attain trade surplus in 2021
BUSINESSicon  03/10/2021 

Vietnam is in a favorable condition to take advantage of free trade agreements (FTA) that the country is a part of, as well as growing global demand in the late-year shopping season.

Private sector plays key role in post-pandemic recovery
Private sector plays key role in post-pandemic recovery
FEATUREicon  03/10/2021 

Vietnam's emerging and dynamic private sector proved its resilience during the Covid-19 pandemic as it helped the country become one of the few countries to obtain positive growth in 2020. 

No price hike on power bill until the end of the year: MoIT
No price hike on power bill until the end of the year: MoIT
BUSINESSicon  02/10/2021 

There will be no increase in electricity prices from now until the end of the year, the Ministry of Industry and Trade (MoIT) - the country's power regulator - announced yesterday during the ministry's monthly press conference.

 
 
 
Leave your comment on an article

OR QUICK LOGIN