Illustrative image (Photo: VNA)Vietnam iscurrently investing more than 21.6 billion USD in 1,584 overseas projects. Inthe first nine months of 2022, its businesses poured over 347.3 million USD in80 new projects, rising 2.31-fold year on year in value, according to theMinistry of Planning and Investment.
Theyinvested in 13 sectors abroad during the period. The processing - manufacturingindustry took the lead with over 291.6 million USD, equivalent to 55.2% of thetotal. It was followed by finance - banking - insurance, wholesale and retail,mining, and agriculture - forestry - fisheries.
Twenty-fourcountries and territories recorded Vietnamese investment in nine months, with Laos beingthe biggest destination, followed by Singapore, the US, Germany, and theNetherlands.
The surgein new overseas investments is partly attributable to five major projects worthover 34.68 million USD each by the Vines Energy Solutions JSC in the US,Canada, France, Germany, and the Netherlands.
Mai notedVietnamese enterprises’ overseas investment has been on the rise with many bigprojects, adding that many projects on technology, rubber, and coffeeproduction have reaped success and sent back profits to the homeland, helping withthe balance of international payments and increase the country’s foreignexchange reserves.
Economic expertTran Du Lich held that while a number of foreign businesses are acquiringVietnamese companies, many enterprises of Vietnam have also been moving topurchase foreign firms so as to stretch their reach to the world.
He said hehopes the country will have international and regional-level brands in the timeahead, adding that many Vietnamese investors have been establishing themselves inthe global markets as seen in their presence in Europe, the US, Australia, andChina./.
VNA
