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.
According to the Foreign Investment Agency under the Ministry of Investment and Planning, 79 projects were granted new investment registration certificates during the period, with a total registered capital sum of $244.37 million. This equals 70.8 per cent of the figure for the corresponding period last year.
A further 18 overseas projects adjusted their capital outgoings to the tune of an additional $171.96 million, almost 3.4 times as much as last year.
Vietnamese businesses have invested in 14 different fields. The wholesale and retail industry took the lead with 23 newly invested ventures and six with added capital, bringing the total to $150.28 million and accounting for 36.1 per cent of the capital that was invested abroad.
Meanwhile, the information and communication industry ranked second with $114.32 million, accounting for 27.5 per cent of the total. This was followed by electricity production and distribution, agro, forestry, and fisheries, banking, and the finance sector.
Vietnamese investors have poured capital into 23 countries and territories. Canada received the largest amount with $150.2 million, followed by Singapore, Laos, and Cuba.
As of August 20, Vietnam had 1,665 valid overseas ventures valued at $22.1 billion. Among them, there are 141 projects from state-run companies totalling nearly $11.67 billion – accounting for 52.8 per cent of the total.
In terms of inbound investment, Vietnam attracted approximately $18.15 billion in foreign direct investment in the first eight months, up 8.2 per cent against last year. Foreign investors have invested in 18 out of a total of 21 national economic sectors.
Accordingly, the processing and manufacturing industry took the lead with a total investment of nearly $13 billion, accounting for nearly 67.8 per cent of the total and up 14.7 per cent on-year.
The real estate sector ranked second, with total investment of more than $1.76 billion, making up more than 9.7 per cent of total registered investment capital but marking an annual decline of 47.2 per cent.
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Investment experts discuss the threats and opportunities of Vietnam's overseas investment activities at the launch of a new book from the International Investment Study Institute on the subject.