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Vietnam's new project investment abroad doubles in five months

Vietnamese enterprises pumped nearly 340 million USD of total investment into new and supplemental capital ventures abroad in the first five months, down 38 percent year-on-year, the latest report by the Foreign Investment Agency (FIA) revealed.
Vietnam's new project investment abroad doubles in five months ảnh 1Prime Minister Pham Minh Chinh attended the opening ceremony of FPT Software's new office in New York City in May. (Photo: VNA)
Hanoi (VNS/VNA) - Vietnamese enterprises pumped nearly 340 million USD of total investment into new and supplemental capitalventures abroad in the first five months, down 38 percent year-on-year,the latest report by the Foreign Investment Agency (FIA) revealed. 

Despitea decline in total investment, their investments into new projects toppedover 293 million USD, double that in the same period last year,thanks to five new projects of Vines Energy Solutions JSC in the US,Canada, France, Germany and the Netherlands, with registered capital of 34.7million USD each.

Duringthe five months, the firms also poured an additional 45 million USDinto operating projects, equivalent to 11 percent of the figureseen in the same period last year, the FIA said.

Theplunge in additional investment in five months of 2022 was attributable to thefact that many large-scale projects in the same period last year raised theirinvestments, such as a Vingroup project in the US which increased capitalby 300 million USD; an Indochina Rubber Investment and Development Coproject in Cambodia which added 76 million USD into its operationsin the market and the 32 million USD adjustment of the VinFast project inGermany.

FromJanuary to May, Vietnamese enterprises made outbound investments in 12sectors. The manufacturing and processing industry lured the most capitalwith eight newly-licensed projects worth some 204.4 million USD, makingup 60 percent of the country's total outbound investment.

Banking,finance and insurance came next with four capital-added projects valued atnearly 35.34 million USD or 10.4 percent of the total, followed bymining, information and communication and wholesale and retail. 

Accordingto the FIA, 19 countries and territories received Vietnamese investmentduring the period. Of them, Laos took the lead withfour new capital expansion projects worth a combined 64 million USD,equal to 19 percent.

Singapore camesecond, luring in 39 million USD, or 11.5 percent. The US, Germany and theNetherlands were the runners-up. 

Asof May 20, Vietnam had 1,555 operational projects abroad, with a totalinvestment of 21.6 billion USD, with 139 invested by State-owned enterprises,making up 53.8 percent or nearly 11.6 billion USD of the total investment. 

Themajority of its overseas investments came towards to miningsector, 32.3 percent, and the agro-forestry-fishery sector, 15.8percent. Countries with the largest investment from Vietnam were Laos(24.8 percent), Cambodia (13.6 percent) and Venezuela (8.5 percent).

Baodautu.vn cited the FIA as sayingthat amid the conflict in Ukraine, the department requestedinvestors to report the situation of their investment and operation activitiesin the country and the number of Vietnamese workers working in Russia andUkraine, as well as the difficulties and obstacles faced by businesses andtheir suggestions and recommendations.

Earlier,the Ministry of Planning and Investment also recommended businesses downsize ordelay, temporarily suspending operations in Ukraine. Currently, Vietnam'sinvestment in Ukraine was modest in terms of the number of projects and capitallevels, the newspaper reported./.
VNA
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