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Friday, June 21, 2024

Vietnam’s outbound investment down in Jan-Sept

The Saigon Times

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HCMC – Vietnamese enterprises poured nearly US$398.3 million into their projects abroad from January to September, down 30% over the same period last year, according to the Ministry of Planning and Investment.

Some 80 projects received new investment certificates overseas with total registered capital of over US$347.3 million, soaring nearly 2.31 times yearly.

Additionally, 15 projects saw their investment added by US$50.9 million, equal to only 12% of the figure seen in the same period last year.

The outbound investment in new projects increased sharply in the January-September period as five new big projects received approval, namely VinES Energy Solutions Joint Stock Company in the U.S., Canada, France, Germany and the Netherlands, with total investment capital of over US$34.6 million each project.

Two projects of state-owned enterprises had their investment capital added by US$10.75 million, accounting for 2.7% of Vietnam’s outbound investment in the first nine months.

Vietnamese enterprises made outbound investments in 13 sectors, of which the manufacturing processing industry, with 11 newly-licensed projects, received the most capital at over US$291.6 million, representing 55.2% of the country’s total figure.

The finance and insurance sectors came in second with US$35.3 million, followed by the wholesale, retail trade, mining and agriculture-forestry-fishery sectors.

Among 24 nations receiving investment from Vietnam in the first nine months of the year, Laos ranked first with total registered capital of US$66.42 million poured into four new projects and three operational ones, followed by Singapore with some US$41.5 million.

As of September 20, Vietnamese businesses have got involved in 1,584 operational projects overseas with a total investment of over US$21.6 billion. Of these, some 139 projects belong to state-owned enterprises with total capital of nearly US$11.6 billion, accounting for 53.6%.

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