Vietnamese firms invest nearly 22 billion USD abroad

May 11, 2023 | 10:08

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There had been 1,643 Vietnamese-invested valid projects in foreign countries with a total capital of 21.93 billion USD as of late April, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

Vietnamese firms invest nearly 22 billion USD abroad | Business | Vietnam+ (VietnamPlus)

Vietnamese firms invest nearly 22 billion USD abroad (Photo: VNA)

Hanoi – There had been 1,643 Vietnamese-invested valid projects in foreign countries with a total capital of 21.93 billion USD as of late April, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

Vietnamese investors poured capital into 13 sectors, in which information and communications took the lead with nearly 69 per cent of the total, followed by the agro-forestry-fishery, processing and manufacturing, and mining sectors.

In the first four months of this year, Vietnam saw 41 new projects licensed in 20 countries and territories with a combined investment of 140 million USD, a decline of 51 per cent compared with that of the same period last year.

Investment adjustments were made at 11 projects, increasing by 13.5 million USD in capital.

Vietnam’s foreign investment consisting of both new investments and adjusted ones reached 153.5 million USD in the first four months of this year, a drop of 53.2 per cent year-on-year.

Is Vietnam missing out on foreign indirect investment?

Vietnam’s legal framework and management mechanism related to foreign indirect investment have gradually developed to contribute to the completion and stabilisation of capital and financial markets.

Resolving the remaining issues in infrastructure investment

I first came to Vietnam when the US embargo on Vietnam was lifted in February 1994. Freshfields decided to open an office in Vietnam to focus on infrastructure development and foreign investment work. At the time, Vietnam’s electricity supply was inadequate.

Hai Phong licenses 4 new investment projects

The northern port city of Hai Phong on May 9 granted investment registration licenses to a project to build Berths No.7 and 8 at Lach Huyen deep-water port area, and three others in the city’s industrial parks.

By VNA

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