Saturday, April 4 2020

VietNamNews

Vietnamese businesses invest $30m abroad

Update: February, 28/2020 - 00:00

 

Clients register for services of Metfone - a telecommunication brand of Viettel in Cambodia. — Photo qdnd.vn

HÀ NỘI — Vietnamese businesses pumped US$30.3 million overseas in the first two months of this year, according to the Foreign Investment Agency.  

Of that number, $21.4 million was poured into 20 new projects while the remaining $8.9 million was pledged to two existing projects.

The agency said restaurant and catering services received the lion's share of Vietnamese investment at $14.3 million, 48 per cent of the total. The manufacturing and processing sector ranked second with $8.9 million or 29.4 per cent, followed by the wholesale and retail sector, logistics, and other services. 

Among the 12 countries and territories where Vietnamese investors were active in the first two months, the US was the largest recipient with $20 million, followed by Cambodia with $8.9 million or 29.5 per cent. Others were Hong Kong, the United Kingdom and Myanmar.

According to analysts, in order for Vietnamese foreign investment to be more effective and reduce the risks, Vietnamese enterprises need to proactively study and keep themselves updated about policy changes, and to co-operate with the local governments and residents of the countries.

It was necessary to comply with local laws, international laws and related regulations in order to avoid possible disputes during the entire investment process, they said. 

More substantive and attractive policies offered by the State to encourage enterprises to increase overseas investment should also included. — VNS

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