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Saturday, June 22, 2024

Vietnam’s outbound investment rises 4.6%

By Nguyen Tan

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HCMC – Vietnam’s outbound investments amounted to US$416.8 million in the first nine months of the year, a 4.6% increase compared to the same period of last year.

However, there was a decline of 29.5% in new investment capital compared to the previous year. Only 84 outbound investment projects received investment registration certificates with total capital of US$244.8 million during this period, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Statistics from the Foreign Investment Agency showed that Vietnamese enterprises have expanded their outbound investments across 14 sectors. The wholesale and retail sector took the lead with 26 new investment projects and six projects involving capital adjustments, accounting for 36.1% of the total outbound investment capital.

The information and communications sector ranked second, contributing US$114.35 million to the total investment capital, representing 27.4%. This was followed by production, electricity distribution, and agro-forestry-fishery.

In terms of business partners, Vietnam’s outbound investments extended to 24 countries and territories during the first nine months of the year.

Canada emerged as the primary destination for Vietnam’s outbound investments, receiving a total of US$150.2 million, accounting for 36% of the total investment. Singapore, Laos, and Cuba also attracted significant investments from Vietnam.

As of September 20, 2023, Vietnam had 1,667 operational outbound investment projects, with total investment capital of nearly US$22.1 billion. Out of these, 141 were state-owned enterprises with total pledged capital of almost US$11.67 billion, constituting 52.8% of the country’s overall outbound investment capital.

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