Vietnam eyes 32.4 per cent jump in outbound investment so far this year

Vingroup contributed more than half of Vietnam's outbound investment in the year to date

Of these, 41 projects were granted new investment certificates with the total registered capital surpassing $150 million, 55.9 per cent as much as the year prior, while 15 capital expansion projects were reported with a total value exceeding $422.1 million, 2.6-times as much as a year ago.

Interestingly, the adjusted investment value during the 9-month period was lower than in the first eight months because the Hanoi-based Vietnam Australia Refrigeration Electrical Engineering Corporation JSC reduced its investment by nearly $4 million.

Significantly, the sharp rise in adjusted investment value was attributed to the US car projects of Vingroup which injected an additional $300 million into its operations in the market, as well as the $76 million expansion of the Cambodian rubber project of Indochina Rubber Investment and Development Co., Ltd., and the $32 million adjustment of the VinFast project in Germany.

Vingroup’s $300 million capital added to its US project aims to realise the company’s ambition to start selling electric cars in the US, Canada, and Europe from the latter months of 2021, starting with its VF35 and VF36 models launched this year.

Vietnamese groups have made outbound investments in 13 business fields so far this year. The professional, science and technology fields took the lead with three projects seeking to add nearly $271 million in total supplemental capital, making up 47.3 per cent of the total investment value during the period.

Wholesale and retail came second with more than $148.1 million in total investment value, equal to 25.9 per cent of the total.

Coming next is mining, the agro-forestry and fisheries sectors, administrative and support services.

20 countries and territories received Vietnamese investment during the period, with the US taking the lead, with three new projects and two capital expansion projects, worth more than $302.8 million in total investment value, equal to 53 per cent.

Cambodia came second luring in nearly $89.4 million, making up 15.6 per cent, followed by Laos and Canada which wooed $47.8 million and nearly $32.1 million, respectively.

As of September 20, a total of 1,429 Vietnam’s outbound investment projects remained effective, valued at more than $21.8 billion in total committed capital value.