Vietnamese businesses have pumped more than US$1.6 billion in investment projects abroad this year, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

The statistics from the FIA have revealed that they invested in some 108 new investment projects abroad this year with a capital investment of over US$1.04 billion.

In addition, 14 projects increased their capital investment by US$564 million, bringing the total newly registered and supplementary capital to over US$1.6 billion in 28 nations and territories.

Vietnam’s  overseas projects mostly focus on Cambodia (accounting for 20.3% of total projects), Myanmar (14.8%), Laos (12%), the US (11.1%) and Singapore (8.3%).

The military-run Viettel group one of the Vietnamese businesses pouring huge investment overseas and is set to invest US$1 billion in 3G network in Tazania and some US$800 million in Myanmar.

The FIA said around US$1 billion of capital investment abroad have been disbursed this year.