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VietNamNews

VN overseas investments total $1b in nine months

Update: November, 01/2014 - 09:25
With 20 projects, Cambodia had the largest number, accounting for 24 per cent of Viet Nam's total overseas investment projects. — Photo motthegioi

HA NOI (VNS)— In the first nine months of 2014, 83 Vietnamese projects were granted licences to invest overseas with a total registered capital of more than US$1 billion.

According to the Planning and Investment Ministry's Foreign Investment Agency, the investments were poured into 23 countries and territories. Among them, Tanzania was the leading investment destination for Vietnamese investors in term of registered capital, with a telecommunications network project by Viettel worth $355.2 million, accounting for 35.5 per cent of Viet Nam's total overseas investment capital.

Cambodia and Burundi followed with $351.4 million and $170 million, representing 35.1 per cent and 17 per cent respectively of Viet Nam's total overseas investment capital.

With 20 projects, Cambodia had the largest number, accounting for 24 per cent of Viet Nam's total overseas investment projects. Singapore and Myanmar had 11 projects each and the United States had nine.

According to the Foreign Investment Agency, Vietnamese investors mainly poured capital into the information and communications sectors, with seven projects worth $527.1 million.

Agriculture, forestry and the fishing industry followed with eight projects worth a total of $348.9 million.

Since it granted a licence to the first Vietnamese project to invest overseas more than a decade ago, Viet Nam has permitted 905 projects to invest registered capital of $19.1 billion in 63 countries and territories as of the end of September.

The maximum investment of $8.6 billion was poured into the mining industry, followed by agriculture, forestry and the fishing industry with $3.1 billion. The power production and distribution industry, and fuel and air conditioner industries received $2.1 billion.

Laos was the leading investment destination of Vietnamese investors, with 249 projects worth more than $4.7 billion. — VNS

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