Việt Nam invests over US$316 million abroad in five months

May 30, 2023 - 09:33

Việt Nam invested nearly US$316.4 million abroad in the first five months of this year, equivalent to 93.5% of the figure recorded in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Representatives of Viettel Cambodia (Metfone) and ISI Group - Cambodia's leading multi-industry economic group signed a strategic partnership. Vietnamese investors abroad invested in 13 sectors, especially retail and wholesale, information and communications, finance, banking, agro-forestry-fisheries. — VNA/VNS Hoàng Minh

HÀ NỘI — Việt Nam invested nearly US$316.4 million abroad in the first five months of this year, equivalent to 93.5 per cent of the figure recorded in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Of the total, $142.7 million was poured into 47 new projects, or 48.6 per cent of the figure in the corresponding period in 2022 while $173.7 million was added to 16 underway ones, nearly four times the figure of last year's first five months.

Vietnamese investors abroad invested in 13 sectors, especially retail and wholesale, information and communications, finance, banking, and agro-forestry-fisheries.

In the January-May period, Vietnamese investments landed in 20 countries and territories, led by Canada with one new and one expanded project worth over $150.2 million. It was followed by Singapore, Laos, and Cuba.

The agency said that as of May 20, Việt Nam had operated 1,648 valid projects abroad with combined investment of nearly $22.1 billion, including 141 by State-owned enterprises worth $11.67 billion, accounting for 52.8 per cent of the country’s total.

Vietnamese investment abroad is mostly in mining (31.5 per cent) and agro-forestry-fisheries (15.6 per cent).

Leading destinations for Vietnamese investors have so far been Laos (24.4 per cent), Cambodia (13.3 per cent), and Venezuela (8.3 per cent). — VNS

MM Mega Market recognised among the 'Top 100 Best Places to Work in Việt Nam 2024'

Economy

Green lifestyle changes drive people towards ethanol fuel

Economy

World Bank outlines path for Việt Nam to reach high income status

Economy

Việt Nam vows to create favourable conditions for Korean investors

Economy

Aeon Mall to be built in Cần Thơ City

Economy

Cyberattack risks surge with AI advancements

More on this story

Economy

Ample room remains for Vietnamese exports to Africa

There remains an ample room for Vietnamese exports to Africa, as the country accounts for only 0.6 per cent of the continent's total import of US$600 billion per year, according to the Ministry of Industry and Trade, given opportunities brought about by the African Continental Free Trade Area (AfCFTA) agreement.

Economy

Outlet stores - solution to weakening consumption

Outlet stores have been present in Hà Nội City since 2012 but their business was not so profitable because of low product diversity.

Economy

Việt Nam jumps 12 spots in business environment rankings

According to EIU, Việt Nam, along with Thailand and India is the Asian countries that have improved their ranking the most over the past year.

Economy

CPI rose slightly by 0.01 per cent in May

Việt Nam's Consumer Price Index (CPI) rose slightly in May 2023 compared to the previous month by 0.01 per cent and 2.43 per cent compared to the same period last year with the largest contributing factors being increases in prices of grains and food, as well as the prices of electricity and household water due to hot weather.

Economy

Promoting digital transformation to ensure national energy security

On Monday, the Industry and Trade Newspaper held a seminar on promoting digital transformation to ensure national energy security by 2050.

Economy

Investors bet on positive market outlook, indices rise

Both national stock indices ended the first trading day of the week on a positive note, as a wave of gainers permeated nearly all sectors, reflecting the optimism of investors in the market's outlook.

Economy

Measures suggested to guarantee corporate bond market’s stability

Several measures have been suggested at an online seminar held by the Government Portal on May 28 to help the corporate bond market maintain its stability and operate in line with law to aid economic growth.

Economy

Cut on automobile registration fees to facilitate auto industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.

Economy

Air passenger volume soars during first five months

Airports in Việt Nam served up to 45.5 million passengers in the first five months of this year, an increase of 37.8 per cent compared to the same period last year, according to the Civil Aviation Authority of Việt Nam (CAAV).