Vietnamese outbound investment continues to rise despite the pandemic

July 28, 2021 | 15:04

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In the first seven months of 2021, Vietnamese businesses invested nearly $570 million in overseas markets, more than 2.3 times as much as in the same period last year.

Vietnamese outbound investment continues to rise despite the pandemic

Vietnamese investment overseas has been rising even during the pandemic. Photo: Unsplash

According to the Ministry of Investment and Planning, 28 projects were granted new investment registration certificates during the period with a total registered capital of $145.3 million, equal to 70.4 per cent of the corresponding period last year. 11 overseas projects adjusted capital with a total additional $424.8 million, 9.1 times as much as last year.

Vietnamese businesses have invested in 12 fields.The science and technology took the lead with new and added capital of $270.8 million, accounting for 47.5 per cent of the total investment capital abroad. The wholesale and retail industry ranked second with a total of six investments with $148.6 million.

In addition, Vietnamese investors have poured capital into 18 countries and territories. The US was the largest destination for Vietnamese companies with a total registered investment capital of $302.8 million, followed by Cambodia ($89.2 million), Laos ($47.8 million), and Canada ($32.1 million).

Vingroup has registered four investment projects abroad, making a siginificant contribution to outbound activities during the period. The conglomerate has projects in France, the Netherlands, and Canada, with the investment capital of each project reaching $32 million. It also has a project in Singapore with an investment capital of $20.5 million. These projects are invested with the goal of importing and exporting telecommunications equipment, electronics, household appliances, and automobiles. In addition, Vingroup also raised investment in the US by $300 million, and by $32 in Germany.

By July 20, Vietnam has 1,423 valid overseas investment projects with the total investment capital of $21.8 billion.

By Thanh Van

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