Vietnam invests over 316 million USD abroad in five months

Illustrative image (Source: VNA)

Vietnam invested nearly 316.4 million USD abroad in the first five months of this year, equivalent to 93.5% of the figure recorded in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Of the total, 142.7 million USD was poured into 47 new projects, or 48.6% of the figure in the same period in 2022 while 173.7 million was added to 16 underway ones, a year-on-year increase of 3.9 times.

Vietnamese investors abroad invested in 13 sectors, especially retail and wholesale, information and communications, finance, banking, agro-forestry-fisheries.

In the January-May period, Vietnamese investments landed in 20 countries and territories, led by Canada with one new and one expanded project worth over 150.2 million USD. It was followed by Singapore, Laos, and Cuba.

The agency said that as of May 20, Vietnam had operated 1,648 valid projects abroad with combined investment of nearly 22.1 billion USD, including 141 by State-owned enterprises worth 11.67 billion USD, accounting for 52.8% of the country’s total.

Vietnamese investment abroad is mostly in mining (31.5%) and agro-forestry-fisheries (15.6%).

Leading destinations for Vietnamese investors are Laos (24.4%), Cambodia (13.3%), and Venezuela (8.3%)./.