Firms expand overseas stakes by 4.4 bil USD in 2013
Vietnam's enterprises invested 4.4 billion USD in foreign countries and
territories in 2013, according to the Ministry of Planning and
Investment.
Vietnam's enterprises invested 4.4 billion USD in foreign countries and
territories in 2013, according to the Ministry of Planning and
Investment.
The ministry last year granted investment licences for 117 projects of domestic companies. These were scattered over 24 countries and territories throughout the world.
Also, total investments of 4.4 billion USD were higher than the 1.546 billion USD in 2012, reported the Dau tu (Vietnam Investment Review) newspaper.
In December 2013, Vinamilk bought a 70 percent stake in Drifwood Dairy, a US dairy company, with a total investment of 7 million USD, to expand its foreign markets.
The same month, Vinamilk, one of the large domestic dairy companies, increased its investment in Miraka Limited Company of New Zealand from 12.5 NZD to 14.42 million NZD, purchasing 19.3 percent of the shares at the company, to open one additional pasteurised fresh milk production line.
This year, the company has received an investment licence to set up a joint venture worth 23 million USD with Angkor Dairy Production Company Limited in Cambodia, including 51 percent of the joint venture's capital.
Also this year, Viettel plans to invest in Burundi. If the plan is successfully implemented, Viettel will have investments in seven countries.
Meanwhile, FPT has now invested in 17 countries, 15 years after beginning their overseas investments.
Truong Gia Binh, chairman of FPT, stated that the company has implemented its globalisation plan through two strategies. One is to provide technological services to customers in countries such as Singapore, Malaysia, Japan and the US, and the other is to provide services that are popular in Vietnam to similar markets, including Laos, Cambodia and Myanmar.
Many other local firms have invested overseas, including PetroVietnam, Hoang Anh Gia Lai, Vietnam Rubber Corporation, Gemadept and Xuan Thanh Group.-VNA
The ministry last year granted investment licences for 117 projects of domestic companies. These were scattered over 24 countries and territories throughout the world.
Also, total investments of 4.4 billion USD were higher than the 1.546 billion USD in 2012, reported the Dau tu (Vietnam Investment Review) newspaper.
In December 2013, Vinamilk bought a 70 percent stake in Drifwood Dairy, a US dairy company, with a total investment of 7 million USD, to expand its foreign markets.
The same month, Vinamilk, one of the large domestic dairy companies, increased its investment in Miraka Limited Company of New Zealand from 12.5 NZD to 14.42 million NZD, purchasing 19.3 percent of the shares at the company, to open one additional pasteurised fresh milk production line.
This year, the company has received an investment licence to set up a joint venture worth 23 million USD with Angkor Dairy Production Company Limited in Cambodia, including 51 percent of the joint venture's capital.
Also this year, Viettel plans to invest in Burundi. If the plan is successfully implemented, Viettel will have investments in seven countries.
Meanwhile, FPT has now invested in 17 countries, 15 years after beginning their overseas investments.
Truong Gia Binh, chairman of FPT, stated that the company has implemented its globalisation plan through two strategies. One is to provide technological services to customers in countries such as Singapore, Malaysia, Japan and the US, and the other is to provide services that are popular in Vietnam to similar markets, including Laos, Cambodia and Myanmar.
Many other local firms have invested overseas, including PetroVietnam, Hoang Anh Gia Lai, Vietnam Rubber Corporation, Gemadept and Xuan Thanh Group.-VNA
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