Business

Vietnam’s businesses canvass investment chances abroad

A number of Vietnamese businesses are expanding their activities in foreign markets that offer promise and less competition.
A number of Vietnamese businesses areexpanding their activities in foreign markets that offer promise andless competition.

The Hoang Anh Gia Lai Group plans to invest 200 million USD in minerals and industrial crops in Cambodia .

Meanwhile, the Thu Duc Housing Development Joint Stock Company hasspent 6 million USD to buy a number of villas and houses in the USduring the downturn in its real estate market. The company has alsojoined its partner in Tashkent , Uzbekistan , to invest in building acomplex in the country.

The Saigon Travel Service Company (Saigontourist) has announced that ithas bought a 252-room hotel in San Francisco and that it will developmore hotels bearing Saigontourist trademark in Tokyo , Berlin , HongKong and Moscow .

According to the Ministry of Planning and Investment’s ForeignInvestment Department, Vietnamese businesses are expanding theirinvestment activities in developed markets, including Japan , the US ,the Republic of Korea (RoK) and Singapore , instead of pouring theircapital into traditional markets like Laos , Cambodia and Russia .

A number of Vietnamese projects have expanded in scale and have focusedon hi-tech industries such as aviation, banking, insurance and realestate.

Vietnamese businesses’ investment capital in 50 countries and territories reached a record of 7.2 billion USD in 2009./.
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