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Vietnamese firms’ outbound investment doubles in five months

Vietnamese enterprises poured over US$293 million into their new projects abroad over the past five months, double the investment made in the same period last year, according to statistics of the Ministry of Planning and Investment.

Between January and May, the country saw 343 new projects receive investment certificates overseas.

According to the ministry, five Vines Energy Solutions JSC-invested projects newly licensed for investment in the United States, Canada, France, Germany and the Netherlands, with registered capital of US$34.7 million each, contributed to the surge.

Besides, during the five-month period, 14 projects abroad received additional investments of some US$45 million, equal to a mere 11% of the figure seen in the same period last year.

The plunge in additional investment dragged the Vietnamese firms’ total investment in new and operational projects overseas over the past five months down 39% year-on-year to US$338.3 million.

Vietnamese investors made outbound investments in 12 sectors, with the manufacturing and processing industry receiving the most capital with eight newly-licensed projects at some US$204.4 million, representing 60% of the country’s total outbound investment.

Among 19 nations receiving investment from Vietnam in the first five months of 2022, Laos was first, with total registered capital of US$64.5 million injected into a new project and three operational ones, followed by Singapore with some US$39 million and the United States.

As of May 20, Vietnam has got involved in 1,555 operational projects overseas, with a total investment of US$21.6 billion, mainly in the mining and agro-forestry-fishery sectors. Countries with the largest investment from Vietnam are Laos, Cambodia and Venezuela.

Source: Saigon Times

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