The government’s report to National Assembly showed that total outward investment capital had reached $6.61 billion as of December 31, 2021, equal to 55 percent of registered capital.

PetroVietnam had the largest implemented investment capital, nearly $4 billion, accounting for 60 percent of total outward investment capital, followed by Viettel with $1.46 billion (22 percent), and Vietnam Rubber Group ($770.8 million, 12 percent).

The total investment capital of the three enterprises accounted for 94 percent of total outward investment capital of SOEs and state invested enterprises (SIEs).

In 2021, the capital recovered from outward investment capital was $509.75 million, while the profit transferred home was $278.56 million. The money was mostly from large projects of economic groups and general corporations, including PetroVietnam ($288.34 million), Viettel ($147.12 million) and Vietnam Airlines Corporation ($35 million).

Of the capital of $3.64 billion recovered as of December 31, 2021, the largest capital belonged to PetroVietnam ($2.63 billion), accounting for 72 percent of recovered capital by SOEs and SIEs, and Viettel ($853.41 million), or 23 percent.

The recovered capital of the two enterprises accounted for 95 percent of total recovered capital of all enterprises making outward investments.

In 2021, 88 outward investment projects brought revenue totaling $7.78 billion, an increase of 40 percent compared with 2020. Of these, 62 projects brought profits with post-tax profits of $810.2 million, up by 90 percent. The profit distributed in the year to Vietnamese investors was $284.82 million, up by $166.3 million, or 2.4 times higher than 2020.

Meanwhile, 30 projects have been reported taking losses, totaling $335.53 million, up by 42 percent compared with 2020.

As of December 31, 2021, 44 projects had reported accumulated losses, totaling $1.33 billion, a decrease of 2 projects and an increase of $164.04 million compared with 2020.

To improve overseas investment efficiency, the government has asked the National Assembly to promote diplomatic relations at the State level between Vietnam and countries that receive investment capital from Vietnam SOEs and SIEs, such as Laos, Cambodia and Myanmar. The aim is to ask host countries to apply preferential policies, be consistent and transparent, and create a stable and safe investment environment for Vietnamese enterprises.

It is also necessary to pay more attention to restructuring outward investments by enterprises while reshuffling enterprises in 2021-2025; strengthening management and supervising outward investment activities; and strictly observing requirements on reporting and assessing the use of outward investment capital.

Luong Bang