Vietnam’s overseas investment soars 125 percent in seven months

Inside the Vinfast factory (Source: VNA)

Hanoi (VNA) – Vietnamese investments overseas soared 125.4 percent year-on-year to 570 million USD in the first seven months of 2021, the General Statistics Office (GSO) announced on July 29.

The sharp increase was largely attributed to extra investment from Vietnam injected into overseas projects, the GSO explained. For example, the Indochina Rubber Investment and Development Co., Ltd. added 76 million USD worth of investment to its project in Cambodia; and automaker Vinfast expanded investment in its Germany-based project by 32 million USD.

A total of 424.8 million USD was pumped into 11 existing projects, surging 9.1-fold year on year.

In addition, there were 28 projects receiving licences overseas with total registered capital of 145.3 million USD, plunging 29.6 percent from the same period last year.

The US was the top destination for Vietnamese capital in the period with 302.8 million USD, holding a lion’s share of 53.1 percent.

Cambodia came second with 89.2 million USD, followed by Laos, Canada, France, Germany and the Netherlands.

As of July 20, FDI flows into Vietnam fell by 11.1 percent year on year to 16.72 billion USD, according to the GSO. Some 10.5 billion USD worth of FDI has been disbursed during the period, up 3.8 percent year on year./.

VNA