US receives most outbound investment of Vietnamese groups in first eight months

US receives the most outbound investment of Vietnam's firms in the first eight months

In the first eight months of 2021, Vietnamese businesses invested nearly $575 million in overseas markets, a rise of 74.1 per cent.

According to the Ministry of Investment and Planning's Foreign Investment Agency (FIA), 40 projects were granted new investment registration certificates during the period with the total registered capital of $150.1 million, equal to 68.7 per cent of the corresponding period last year. 13 overseas projects adjusted capital with a total $424.9 million, 3.8 times as much as last year.

"The sharp increase in additionally-registered capital is contributed by Vingroup's project in the US, which injected a total $300 million, Indochina Rubber Investment and Development Co., Ltd. in Cambodia which raised capital by $76 million, and a $32 million VinFast project in Germany," the representative of the FIA told VIR.

Vietnamese businesses have invested in 13 fields. Science and technology took the lead with new and added capital of $270.8 million, accounting for 47.1 per cent of the total outgoing investment capital. The wholesale and retail industry ranked second with a total of six investments with $150.9 million, followed by agriculture, forestry, and fishery.

Vietnamese investors have poured capital into 20 countries and territories. The US was the largest destination with the total registered investment capital of $302.8 million, followed by Cambodia ($89.4 million), Laos ($47.8 million), and Canada ($32.1 million).

While Vietnam's overseas investment has grown significantly against a year ago, it has been slowing down in the past months (along with incoming foreign investment) due to the COVID-19 pandemic, with only about $5 million of outbound investment registered in August.

As of July 20, Vietnam had 1,428 valid overseas investment projects with the total investment capital of $21.8 billion.