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Vietnam’s overseas investment soars 74 percent in eight months

Vietnam’s overseas investment soars 74 percent in eight months

Wednesday, September 01, 2021, 16:23 GMT+7
Vietnam’s overseas investment soars 74 percent in eight months
Engineers work at a factory of Vingroup’s subsidiary automaker VinFast in this supplied photo.

Vietnamese enterprises invested US$575 million abroad in the January-August period, up 74.1 percent over the same period last year, according to the General Statistics Office’s data.

The amount included $150.1 million poured into 40 new projects, equivalent to 68.7 percent of the figure in the same period last year, and $424.9 million added to 13 existing ones, rising 3.8-fold.

Most notably, Vietnamese conglomerate Vingroup invested in new projects in the U.S. with adjusted capital reaching $300 million, while its automaker VinFast expanded investment in a Germany-based project by $32 million.

Vietnamese investment capital was channeled into 20 countries and territories during the eight months. 

The U.S. was the top destination of Vietnamese investors with $302.8 million, making up 52.7 percent of the total. 

Cambodia, Laos, and Canada followed, attracting $89.4 million, $47.8 million and $32.1 million, respectively.

As of August 20, Vietnamese investors had registered a total capital of $21.8 billion in 1,428 ongoing projects, 36.3 percent of which operated in the mining industry and 15.3 percent in the agro-forestry-fishery sector, according to the Ministry of Planning and Investment.

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