return icon

Vietnamese investors to reap fruit from overseas projects

A government report shows that as of December 31, 2021, total overseas investment capital of Vietnamese enterprises had reached $6.61 billion.
Vietnamese investors to reap fruit from overseas projects

PetroVietnam was the biggest investor with $3.99 billion (60 percent), followed by Viettel ($1.46 billion, 22 percent) and VRG ($770.8 million, 12 percent). These corporations accounted for 94 percent of overseas investments by state owned enterprises (SOEs) and state-invested enterprises.

Vietnamese businesses mostly invest in the fields of oil and gas, telecommunications, rubber plantation and latex processing, mining, agriculture, construction and installation and air transport. Investments in oil and gas, telecommunications and rubber latex processing made up 96 percent of the total.

Most projects have been profitable, with revenue increasing sharply in 2020. In 2021, 88 projects earned $7.78 billion, up 40 percent compared with 2020. 

Sixty-two projects were profitable ($810.2 million post-tax, 90 percent over 2020). Profit earned in 2021 was $284.82 million, up $166.3 million over 2020.

Many projects have taken back some investment capital. A government report showed that by December 31, 2021, 62 projects of 14 enterprises had begun 

recouping investment capital with a total accumulated $3.64 billion, including $1.74 billion worth of profits transferred home.

PetroVietnam reported the highest capital recovered, $2.63 billion (72 percent of total recovered capital of SOEs and state invested enterprises). Viettel ranked second with $853.41 million (23 percent).

On May 15, 2012, Viettel announced its investment in a mobile network called Movitel in Mozambique. One year later, Movitel become the largest network with 1,800 BTS (2G and 3G), covering 100 percent of districts and highways, contributing 50 percent to the country’s telecommunication infrastructure with 12,600 kilometers of fiber cables.

At that time, Movitel helped turn Mozambique into one of the fastest growing countries in terms of telecom infrastructure and one of three countries with the largest fiber cable infrastructure in the region, just after South Africa and Nigeria.

Viettel has invested in four African countries, including Mozambique, Tanzania (Halotel network), Burundi (Lumitel) and Cameroon (Nexxtel).

Luong Bang


Lai Chau ginseng: a hidden national treasure

Ethnic people in Lai Chau province have long used locally-grown ginseng to improve their health.

Late artist Nguyen Tu Nghiem’s works on display in rare exhibition

This rare opportunity for art lovers to see the artist’s works is being held to honour his career, which spanned over 70 years in the 20th and 21st centuries.

Authorities to boost implementation of OV-related tasks: official

Efforts will be accelerated in 2023 to implement tasks relevant to overseas Vietnamese (OV) affairs, said Deputy Foreign Minister and Chairman of the State Committee for OV Affairs Pham Quang Hieu.

Censorship council under pressure when approving films related to private life

Director of the Cinema Department Vi Kien Thanh said the censorship council bears increasing responsibility, especially when censoring films related to private lives.

Young VN talent awarded 2023 Clay Research Fellowships

Pham Tuan Huy, 27, has become only the second Vietnamese talent to receive an award from the Clay Mathematics Institute (CMI) which gives out various prizes and sponsorships to promising mathematicians from around the world.

AFC praises Park Hang-seo’s “lasting legacy” in Vietnamese football

The Asian Football Confederation (AFC) has published an article titled “Park Hang-seo: A lasting legacy”, to honour the Korean coach after his magical five year journey with the Vietnamese men’s football team.

Discovering pig slaughtering festival in Vietnam

A traditional pig slaughtering festival got underway in Nem Thuong village of Bac Ninh city, northern Vietnam, on January 27 as part of activities to celebrate the new-year period.

Prague Airport wants to open direct air routes to Vietnam

Prague Airport in the Czech Republic is planning to launch new direct air routes to North America and Asia, including Chicago (US) and Vietnam.

Mural village woos more visitors to Quang Binh

The coastal village of Canh Duong in Quang Trach district, central Quang Binh province, is known for its breathtaking natural scenery. But now, the 400-year-old village attracts visitors with its beautiful and unique murals.

Intertwined opportunities, challenges for Vietnam’s economy in 2023

With certain headwinds predicted for the global economy in 2023, Vietnam too, faces considerable challenges. But opportunities are also significant if concerted and appropriate solutions are taken, an expert has said.

Tranquil beauty of Hon Chuoi - outpost island in southwestern sea

With steep cliffs and a thick primeval forest, the untouched and mysterious beauty of Hon Chuoi Island remains intact nowadays.

Vietnam among world’s 10 biggest recipients of remittances

Vietnam remains one of the 10 countries receiving the most remittances in the world, according to the recent Migration and Development Brief by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD).

Phuoc Thinh departs for Mister Tourism World 2022

Phung Phuoc Thinh, the Vietnamese representative at Mister Tourism World 2022, recently left for the Philippines to compete in the final round of the male pageant.


Quang Ninh: Cross-border trading with China resumed after Tet


Auto testing centers nationwide resume operations