Vietnam pours USD20 billion abroad

Vietnam poured a combined USD20 billion in new and additional capital abroad as of this April, according to the Ministry of Planning and Investment’s Overseas Investment Agency.

Vietnam poured a combined USD20 billion in new and additional capital abroad as of this April, according to the Ministry of Planning and Investment’s Overseas Investment Agency. 

Laos and Cambodia remain major markets attracting Vietnam’s outbound investment, with a respective USD3.9 billion (26 percent) and USD3.2billion (22 percent). 

Vietnam also channeled USD968 million into 18 projects in Russia, USD1.8 billion in two projects in Venezuela, and 1.3 billion USD in six projects in Peru. 

Other Vietnamese capital markets include Malaysia, Myanmar and the US. 

Mining is Vietnam’s predominant field overseas with 11 projects worth USD5.1 billion, equivalent to 11.5 percent of the projects and 34 percent of the total capital. 

It is followed by agro-forestry-fisheries with USD2.7 billion in 125 projects, accounting for a respective 18 percent and 13 percent. Others include information, communications, electricity, real estate, finance-banking and insurance. 

Aside from State-owned corporations Viettel, Vinamilk and Vietnam Rubber Group, the private sector and small- and medium-sized enterprises are eyeing foreign markets. 

Last year, 12.5 percent of licensed outbound projects were from individuals while 76 percent were from private businesses, including the high-profile BKAV, Hoa Sen and Kym Dan, among others.