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Vietnamese overseas investment in Jan-July sharply rises

Vietnamese firms invested USD570.1 million in foreign countries in the first seven months of this year, representing a 2.3-fold increase, the Ministry of Planning and Investment reported.

Vietnamese firms invested USD570.1 million in foreign countries in the first seven months of this year, representing a 2.3-fold increase, the Ministry of Planning and Investment reported.

According to the ministry, of the figure, USD145.3 million came from 28 newly-licensed projects, and the remainder was from the capital rise of 11 existing projects, up 9.1 folds on-year.
 

Vietnamese businesses invested in 12 sectors abroad. Among those, science-technology projects accounted for up to USD270.8 million, equal to 47.5% of the country’s total overseas investment during the period.

It was followed by the wholesale and retail sector with USD148.6 million, or 26.1%.

The US was the top destination for Vietnamese capital during the period with USD302.8 million, holding a lion’s share of 53.1%. Cambodia came next with USD89.2 million, equivalent to 15.6%, followed by Laos and Canada with USD47.8 million and USD32.1 million respectively.

As of July 20, Vietnam invested in 1,423 projects abroad with a total capital value of USD21.8 billion.

The country’s overseas investment mostly focused on the mining sector (36.3%) and agro-forestry-fisheries (15.3%).

Source: dtinews.vn, LD
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