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Tuesday, July 16, 2024

Vietnam’s outbound investments fall 7.3% in H1

The Saigon Times

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HCMC – Vietnamese businesses have invested a total of US$320.6 million in their overseas projects from January to June, a 7.3% decrease compared to the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The six-month period has seen 60 new projects receiving certificates for overseas investment, with a total pledged amount of nearly US$142.7 million, up 48.6% in fresh capital compared to the previous year. Nearly US$173.7 million has been injected into 16 existing projects, a 3.9-fold year-on-year increase.

Vietnamese investors have made outbound investments across 13 sectors. The wholesale and retail sector has received the largest share of investment, with nearly US$147.8 million, followed by information and communications with US$109.3 million.

Canada has emerged as the top destination for Vietnam’s outbound investment, receiving a total of US$150.2 million, accounting for 46.9% of the total investment. Singapore, Laos, and Cuba have also attracted significant investments from Vietnam.

Masan’s acquisition of shares from Trust IQ Pte. Ltd in Singapore account for a third of Vietnam’s overseas investment commitments in the first half, reaching US$105 million.

As of June 20, Vietnam had had 1,654 operational projects abroad, with a total investment of over US$22.1 billion. State-owned enterprises accounted for 52.8% of the projects and nearly US$11.67 billion in investment.

The mining sector received the highest share of outbound investment at 31.6%, followed by agriculture, forestry, and fishery at 15.6%.

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