Vietnamese firms invest over US$25 million abroad

Local businesses invested in 17 new projects abroad over the first two months of the year with a total registered capital of US$25 million, equivalent to 21.7% over the same period from last year, according to the Foreign Investment Agency.

Local businesses invested in 17 new projects abroad over the first two months of the year with a total registered capital of US$25 million, equivalent to 21.7% over the same period from last year, according to the Foreign Investment Agency.

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Vietnamese financiers have injected money in eight industries, with the majority of outflow capital being poured into the wholesale and retail sectors, accounting for 39.4% of total investment capital, followed by real estate with 21.5% and construction with 20%.

The United States topped the list among 11 recipients of Vietnamese investment, accounting for 26.6% of total investment capital, followed by New Zealand with 23.5%, and Germany with 21.5%.

As of February 20, Vietnam operated 1,716 valid overseas investment projects with a combined capital of nearly US$22.12 billion.

Vietnamese outbound investment mainly focused on the mining and agro-forestry-fisheries industries, making up 31.5% and 15.5%, respectively.

So far, leading destinations for local investors include Laos with 24.8%, Cambodia with 13.2%, and Venezuela with 8.3%.