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VietNamNews

FDI farming, mining projects reach $213m

Update: November, 24/2015 - 09:10
Vietnamese companies invested over US$213 million in mining and farming projects abroad in the first 10 months of 2015. — Photo giaoduc.net.vn
HCM CITY (VNS) — Vietnamese companies invested over US$213 million in mining and farming projects abroad in the first 10 months of 2015, according to figures released by the Foreign Investment Agency under the Ministry of Planning and Investment.

The overseas mining and farming projects accounted for nearly half of total registered capital of the Vietnamese investors' new overseas FDI projects licensed by the Vietnamese authority over the same period.

The department licensed 102 new foreign direct investment (FDI) projects capitalised at $441.9 million, plus capital expansion of $192.8 million for 53 operational FDI projects, in the first 10 months of the year.

In all, agencies licensed a total capital of $625.4 million invested by Vietnamese firms outside Viet Nam in the first 10 months of 2015.

Major investments were channeled into traditional markets such as Cambodia (with $194 million for 23 projects); Laos (with total investments of $126 million for 18 projects); and the US (with $102 million for 22 projects).

In addition, Vietnamese investors were also licensed for FDI projects in Russia, Singapore and Germany.

The mining sector attracted the biggest investments from local firms, up to $107 million, accounting for 16.8 per cent of total investments, followed by the farming, fishery and forestry sector with investment of $106 million.

In the past few years, investments have also been poured into sectors such as information technology, communications, power generation, real estate, financial services, insurance and banking.

This indicates the diversity of FDI sources from Vietnamese investors, according to the Foreign Investment Agency. — VNS

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