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Tuesday, July 23, 2024

Most of Vietnam’s outbound investments flow into Singapore in Q1

By The SaigonTimes

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HCMC – Vietnamese investors have injected nearly US$120 million into their projects overseas in the year to date, a sharp drop against the year-ago period, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

There are 21 projects receiving certificates of overseas investment with total registered capital of US$113.3 million and seven operational projects adding US$6.7 million.

Masan’s acquisition of shares from Trust IQ Pte. Ltd in Singapore makes up a majority of Vietnam’s overseas investment commitments in the first quarter, at US$105 million.

The remaining US$15 million goes to 20 new investment projects and seven operational projects.

According to the Foreign Investment Agency, Vietnamese firms have invested overseas in 11 sectors. Of which, information and communications makes up the most investment capital, at US$105.4 million, accounting for 88.2% of the country’s overseas investment.

The service sector comes second with one operational project increasing capital by US$5 million, followed by wholesale, retail, healthcare, processing and manufacturing.

Among 15 countries receiving Vietnam’s investment in the first quarter of the year, Singapore was the largest recipient with US$105.5 million via one new project and one operational project. Israel, Cambodia, Australia, Thailand and Laos came next.

As of March 20, 2023, Vietnam had had 1,625 operational projects overseas with total investment pledges of over US$21.9 billion. Of them, 141 projects worth nearly US$11.6 7 billion belong to state-owned enterprises.

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