Vietnam invests 120 million USD abroad in three months
Vietnam’s total outbound investment in the first quarter of 2019 reached an estimated 120 million USD, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
People register for services of Metfone, a Viettel brand in Cambodia. Cambodia is one of markets which received large investments of Vietnamese firms. (Photo: VNA)Hanoi (VNA) - Vietnam’s total outbound investment in the first quarter of 2019 reached an estimated 120 million USD, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Of that number, 80.4 million USD was poured into 24 new projects while the remaining 39.6 million USD was pledged to eight existing projects.
The agency said the science and technology sector received the largest share of investment at 67.8 million USD, 56.5 percent of the total. It was followed by 36 million USD to the banking sector, accounting for 30 percent of the total and wholesale and retail sector with 10.7 million USD, or 8.9 percent.
Among the 18 countries and territories where Vietnamese investors were active in the first three months of the year, Spain was the largest recipient with 59.8 million USD, followed by Cambodia and the US, which received 37.9 million USD and 11 million USD, respectively.
Experts forecast that Vietnamese overseas investment will continue to increase if the world economy stays stable. Meanwhile, free trade agreements which Vietnam has joined could help drive local enterprises to seek investment opportunities in foreign markets thank to tax cuts.-VNA
You should also see
Leaders pay tribute to President Ho Chi Minh on National Reunification Day
Leaders and former leaders of the Party, State, Government, National Assembly (NA), and Vietnam Fatherland Front (VFF) paid tribute to President Ho Chi Minh at his mausoleum in Hanoi on April 26 on the occasion of the 49th anniversary of the Liberation of the South and National Reunification Day (April 30, 1975-2024).
See more
Business
Dong Nai calls for Korean investment into green growth
The southern province Dong Nai introduced its investment projects and incentives to the Republic of Korea (RoK)’s firms at a workshop in Seoul on April 25.
Business
Vietnam ranks fifth among aquatic product suppliers for Singapore
Vietnam jumped one place to become the fifth largest exporter of aquatic products to Singapore for the first time in the first quarter of this year, according to its Trade Office in the city state.
Business
Forum seeks ways to boost exports amid external challenges
Experts gathered at a forum in Ho Chi Minh City on April 25 to seek ways to untangle knots in terms of capital and market for exporters in the context that the ongoing conflicts in many regions are disrupting international trade.
Business
Enterprises want clearer regulations on seafood production
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Business
InfographicRice exports up 40% in Q1
According to the Ministry of Agriculture and Rural Development, Vietnam exported 2.07 million tonnes of rice in the first quarter of 2024, earning 1.37 billion USD in revenue. This represents a 12% increase in volume and 40% in value compared to the same period of 2022.
