Vietnam’s new overseas investments surge 2.31-fold in nine months

Illustrative image (Photo: VNA)

Vietnamese enterprises have invested over 347.3 million USD in 80 new projects in the first nine months of 2022, rising 2.31-fold year on year, according to the Ministry of Planning and Investment (MPI).

Meanwhile, 50.9 million USD has been poured into 15 existing ones, equivalent to 12% of that in the same period last year.

The total investment, nearly 398.3 million USD, is equivalent to 69.6% of the nine-month figure in 2021.

The surge in new overseas investments is partly attributable to five major projects worth over 34.68 million USD each by the Vines Energy Solutions JSC in the US, Canada, France, Germany, and the Netherlands.

Projects receiving additional capital include the one by Vingroup in the US (up 300 million USD), that of the Indochina Rubber Investment and Development Co. Ltd in Cambodia (up 76 million USD), and another by Vinfast in Germany (up 32 million USD).

The MPI said Vietnamese firms have invested in 13 sectors abroad in the nine months. The processing - manufacturing industry took the lead with over 291.6 million USD, equivalent to 55.2% of the total. It was followed by finance - banking - insurance (35.3 million USD, equivalent to 8.9%), wholesale and retail, mining, and agriculture - forestry - fisheries.

Among the 24 countries and territories recording Vietnamese investment, Laos is the biggest with 66.42 million USD in capital, and Singapore ranks second with nearly 41.5 million USD, respectively accounting for 16.7% and 10.4% of the total. They are followed by the US, Germany, and the Netherlands.

As of September 20, Vietnam had invested over 21.6 billion USD in 1,584 overseas projects. The capital concentrated in mining (32.2%) and agriculture - forestry - fisheries (15.9%). Laos, Cambodia, and Venezuela received the most investment when respectively making up 24.7%, 13.6%, and 8.4% of Vietnam’s overseas investment, statistics show./.