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Vietnam’s overseas investment surges in Jan-Aug

The Saigon Times

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HCMC – Vietnamese firms poured US$575 million into their projects abroad in the January-August period of the year, soaring nearly 74.1% year-on-year, according to the Ministry of Planning and Investment.

Of them, 40 projects received investment certificates overseas with total registered capital of US$150.1 million, representing 68.7% of the same period last year. In addition, US$424.9 million was pumped into 13 existing projects, 3.8 times higher than the additional capital in projects in the same period last year, Nguoi Lao Dong newspaper reported.

Vietnamese firms invested in 13 sectors in the period, with the science-technology sector receiving the most capital at US$270.8 million, accounting for 47.1%.

The wholesale-retail sector came in second, with over US$150.9 million, followed by the agro-forestry-fishery, administration and supporting sectors.

In the eight-month period, 20 countries and territories received investment from Vietnam. The United States was the largest receiver with US$302.8 million, making up 52.7% of the total, followed by Cambodia with US$89.4 million, Laos with US$47.8 million and Canada with US$32.1 million.

According to the Ministry of Planning and Investment, as of August 20, Vietnam has invested US$21.8 billion in more than 1,400 projects overseas, mainly in the mining and agro-forestry-fishery sectors.

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