Vietnam records $147.3 million outbound investment in first eight months of 2024

September 13, 2024 | 10:09

(0) user say

Vietnam's overseas investment totaled $147.3 million in the first eight months of 2024, equaling 35.4 per cent of last year's figure, according to the Ministry of Planning and Investment.

Vietnam records $147.3 million outbound investment in first eight months of 2024

In the first eight months of this year, Vietnamese businesses invested in 75 new projects abroad and added capital to 17 ongoing projects.

Vietnamese investors injected money into 14 sectors during that time. The mining sector topped the list with $58.6 million, accounting for 39.8 per cent of the total. It was followed by the processing and manufacturing industry with $29.1 million, making up for 19.7 per cent of the total. Next in line was the wholesale and retail sector (16.8 per cent).

25 countries and territories received Vietnamese investments in the first eight months of 2024. Among them, the Netherlands topped the list with $54.6 million, accounting for 37.1 per cent of the total. Laos came second with $37.8 million, holding 25.7 per cent. The United Kingdom and the United States were runners-up, making up for 13.4 per cent and 12.7 per cent, respectively.

As of August 2024, Vietnam had 1,757 operational projects abroad with a total investment of over $22.26 billion.

The investments are concentrated on mining (31.6 per cent), and agriculture, forestry and fishery (15.5 per cent). Meanwhile, the biggest destinations for Vietnamese investments are Laos (24.7 per cent), Cambodia (13.2 per cent), and Venezuela (8.2 per cent).

In terms of inbound investment, Vietnam recorded $20.52 billion in foreign direct investment (FDI) in the first eight months of 2024, up 7 per cent on-year. Realised FDI rose 8 per cent to $14.15 billion.

Vietnam’s outbound investment: Gains and pitfalls

Apart from sweet gains, outbound investment ventures of many local groups are also strewn with many pitfalls.

Vietnamese outbound investment reaches $416 million over first eight months

In the first eight months of 2023, Vietnamese businesses injected nearly $416.34 million into their projects in overseas markets, up 5.2 per cent against the same period last year.

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

According to the latest statistics by the Ministry of Planning and Investment, in the first nine months of this year, Vietnam pumped $572.3 million of total investment into new and supplemental capital ventures abroad, a 32.4 per cent jump on-year.

By Thanh Van

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional