Vietnam’s overseas investments rise sharply in January-February

Vietnam’s outbound investments reach 115.1 million USD in the first two months of this year, 2.16 times higher than that the same period last year. (Photo: VNA)

Vietnam’s outbound investments reached 115.1 million USD in the first two months of this year, 2.16 times higher than that the same period last year, according to the General Statistics Office (GSO) under the Ministry of Planning and Investment.

Of the sum, 109.4 million USD was poured into 10 new projects, a 2.1-fold rise year-on-year. Meanwhile, four other projects increased their capital by nearly 5.7 million USD.

Notably, Vietnamese conglomerate Masan Group’s subsidiary The Sherpa received a licence to place 105 million USD in Singapore-based tech firm Trust IQ Pte. Ltd. The project is part of Masan's strategic goal by 2025 to create a consumer - retail - technology ecosystem.

Vietnamese firms invested in 10 sectors abroad, including information-communications, services, wholesale and retail, health care, processing and manufacturing.

Illustrative image (Source: VNA)

Singapore was the biggest recipient of the investments, with a combined capital of 105.5 million USD poured into a new project and another existing one. It was followed by Israel and Laos.

As of February 20, Vietnam counted 1,617 valid overseas projects valued at more than 21.89 billion USD, with 141 by State-invested firms worth some 11.67 billion USD, making up 53.3% of the total.

Laos, Cambodia and Venezuela lured the most Vietnamese investments, mainly in mining, and agriculture, forestry and fishery./.