7 Months of 2021 Vietnam's Overseas Investment Rises by 2-3 Times

Vietnam's overseas investment rose by 2-3 times in the first seven months of 2021, reported VNA.
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7 Months of 2021 Vietnam's Overseas Investment Rises by 2-3 Times
Source: VNA

Vietnamese investments overseas soared 125.4% year-on-year to USD 570 million in the first seven months of 2021, said the General Statistics Office under the Ministry of Planning and Investment.

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

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

Vietnamese firms such as Vingroup, Thaco, FPT, T&T, Vinamilk and TH Group, have increased their overseas investments in recent years to expand their global reach.

A major part of the capital outflow was poured into the science-technology sector. The wholesale and retail sector came next, following by the agro-forestry-fisheries sector and auxiliary services.

7 Months of 2021 Vietnam's Overseas Investment Rises by 2-3 Times
A factory of Masan High-Tech Materials abroad. Illustrative photo: VNA

At present, the production and business activities of enterprises have continued to recover from the Covid-19 pandemic.

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

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

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

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

Vietnam also had 1,423 valid overseas projects worth a total of nearly USD 22 billion.

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