Vietnamese firms invest over $430 million abroad in nine months

16-Nov-2019 Intellasia | VOV | 6:02 AM Print This Post

Domestic businesses have invested approximately $431.7 million abroad during the first nine months of the year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Luring the largest proportion of investment from local enterprises has been the wholesale and retail sector which has enjoyed investment of $110.6 million, accounting for 25.6 per cent of the total figure.

Following this, the science and technology sector ranked second with $83.4 million, with the agro-forestry-aquatic sector with $64.1 million of investment in third, followed by the real estate with $56.9 million.

Among the 30 countries and territories globally that Vietnamese financiers were active in during the reviewed period, Australia proved to be the largest recipient with $140.6 million, accounting for 32.6 per cent of the total figure, trailed by the United States with $59.9 million, Spain with $59.8 million, Cambodia with $50.6 million, and Singapore with $35.6 million.

These figures indicate that local firms have made great strides in injecting their money into new markets. Examples of this can be seen with $4.8 billion of Vietnamese investment being put into Laos, followed by $2.8 billion going into Russia.

Regionally, the country ranked fifth, after China, Thailand, the Republic of Korea, and Japan, in terms of financiers in Cambodia with $3.2 billion of capital invested across 214 projects.

The nation’s investment in the regional partner mostly went into such sectors as agro-forestry, finance, banking, insurance, and telecoms.

At present, over 200 Vietnamese businesses, including popular brands such as Hoang Anh Gia Lai, the Joint Stock Commercial Bank for Investment and Development of Vietnam, Vietnam Ailrines, and Fastgo, are investing in Myanmar.

During a recent visit to Myanmar on June 18, deputy prime minister Vuong Dinh Hue emphasized that Myanmar is fast becoming a strategic market for local firms, noting that the Myanmar government will create optimal conditions for Vietnamese enterprises to operate in the country. million-abroad-in-nine-months-406166.vov


Category: Economy, Vietnam

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