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VietNamNews

VN firms invest $849m overseas in 7 months

Update: September, 19/2014 - 08:33

Vietnamese businesses have invested in 68 projects in 21 countries with total capital of US$849 million for the first seven months of this year, according to the Ministry of Planning and Investment's Foreign Investment Agency.— Photo bizlive

HCM CITY (VNS) — Vietnamese businesses have invested in 68 projects in 21 countries with total capital of US$849 million for the first seven months of this year, according to the Ministry of Planning and Investment's Foreign Investment Agency.

It has raised total overseas investment capital to $19 billion, with 890 licensed projects at 63 countries and territories.

The capital in the first seven months, $608.9 million has been disbursed. The figure is expected to reach $1.15 billion by the end of this year.

Most projects concentrate on oil and gas exploration and exploitation, telecommunications, rubber planting and banking.

The largest project is a $355.2 million telecommunications network in Tanzania by Viettel, one of the leading mobile network operators in Viet Nam.

The group is also working on another $170 million project in Burundi.

The year second largest abroad project is an $80 million rubber planting project in Cambodia by An Dong Mia Company.

Tay Ninh Rubber Company has invested $64.7 million abroad, Dau Tieng Kratie $63.8 million and Tan Bien Kampong Thom $62 million.

The remaining projects have an investment capital of average $1.58 million each.

Some enterprises have begun earning profits from the projects such as Viettel and Hoang Anh Gia Lai. — VNS

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