|Workers shovel coffee beans at a Laos-based plant of Thai Hoa Group. Vietnamese businesses invested more than US$1.78 billion abroad. — VNA/VNS Photo Tran Viet
HA NOI (VNS) — Vietnamese businesses invested more than US$1.78 billion abroad last year, according to the Planning and Investment Ministry's Foreign Investment Agency (FIA).
Of this figure, more than $1 billion came from 109 newly-licensed projects, while the remainder came from 22 operating projects, which ramped up their levels of capital, the FIA said, describing Viet Nam's investments abroad last year as a positive development, even as the domestic economy is still encountering several challenges.
During the reviewed period, the investments were focused on 28 countries and territories.
Among them, Tanzania was the leading investment destination for Vietnamese investors, in terms of registered capital and accounted for 34 per cent of Viet Nam's total overseas investment capital. It was followed by Cambodia at 31.1 per cent and Burundi at 16.2 per cent.
With 23 projects, Cambodia had the largest number, accounting for 21 per cent of Viet Nam's total overseas investment projects. Singapore is next with 16 projects or 14.7 per cent, while Laos and the United States ranked third and fourth with 13 projects or 12 per cent and 12 projects or 11 per cent, respectively.
Among the largest projects are two telecommunications network projects, being invested in by Viettel in Tanzania and Burundi, which involve a combined capital of $525.2 million; a An Dong Mia Co's rubber plantation project in Cambodia, capitalised at $80.4 million and three others in Cambodia with capital totalling $190 million.
As of the end of last year, Vietnamese foreign investment topped $19.78 billion and approximately $6 billion or 30.6 per cent of the total capital has been disbursed.
A maximum disbursement capital of $2.9 billion was invested in the oil and gas sector, followed by over $660 million in agriculture, forestry and the fishing industry; $500 million in the hydroelectric sector; $450.6 million in the ICT industry, as well as $230 million in the finance, banking and insurance areas.
The agency has forecast that Vietnamese businesses will invest an additional $1.5 to 2 billion abroad this year. — VNS