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Saturday, July 20, 2024

Vietnam’s outbound investments down in Jan-May

By N. Tan

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HCMC – Vietnamese businesses have poured US$316.4 million into their projects overseas in the past five months, down 6.5% against the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

In the year till now, 47 new projects have received certificates for overseas investment with total registered capital of nearly US$142.7million, equal to 48.6% in new capital over the year-ago period.

Meanwhile, 16 operational projects saw an additional investment of nearly US$173.7 million, which is 3.9 times higher than the same period of last year.

Statistics from the Foreign Investment Agency show that Vietnamese investors made outbound investments in 13 sectors.

Among those, wholesale and retail received the largest capital of nearly US$147.7 million, with 15 newly-licensed projects and five projects having capital adjustments, representing 46.7% of the country’s total outbound investment.

Information and communications ranks second with US$108.5 million, accounting for 34.3% of the total outbound investment, followed by finance and banking, agriculture, forestry and fishery.

In the past five months, Canada has emerged as the largest receiver of Vietnam’s outbound investment, with total registered capital of US$150.2 million pledged in one new project and one operational one, making up 47.5% of the total.

As of May 20, 2023, Vietnam had got involved in some 1,648 operational projects overseas with a total of over US$22.1 billion. Of these, some 141 projects belong to state-owned enterprises with a total of nearly US$11.67 billion, accounting for 52.8%.

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