09:35 | 22/12/2015 Investment
(VEN) - Vietnamese investment abroad has diversified both in terms of market and sector. Along with the Decree on Investment Abroad, experts forecast that Vietnamese investment overseas will develop in the near future.
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According to statistics from the Ministry of Planning and Investment’s Foreign Investment Department, Vietnamese businesses have invested US$15.49 billion via 1,032 projects. So far this year, they have registered US$441.9 million in 102 new projects, while increasing capital in 53 existing projects by US$192.8 million.
Leading countries in terms of receiving Vietnamese investment include Cambodia with 11 new projects and 12 ongoing projects which have benefited from total new and supplementary capital of US$194 million. Laos took second place with 9 new projects and 9 ongoing projects with total new and supplementary capital of US$126 million. The US took third place with 18 new projects and 4 projects with total new and additional investment of US$102 million.
Mining remains the biggest sector for investment with US$107 million accounting for 16.8 percent of total investment, followed by agriculture, forestry and fisheries with US$106 million.
The Foreign Investment Department said that Vietnamese investment abroad has increased rapidly so far this year in not only traditional markets such as Cambodia and Laos but also in the US, Russia, Germany and Singapore. Apart from traditional sectors, Vietnamese businesses have focused on communications, power production, real estate, finance, banking and insurance. Vietnamese investors abroad include not only state-owned groups but also an increasing number of private and joint stock companies.
The Ministry of Planning and Investment forecast that Vietnamese investment abroad will prosper in the near future, particularly after the prime minister issued Decree 83/2015/ND-CP on September 25, 2015, regulating Vietnamese investment abroad including procedures, state management, capital transfers abroad, investment location and reporting. After that, on October 26, 2015, the Ministry of Planning and Investment issued a circular which included an overseas investment application form in an effort to facilitate Vietnamese investment abroad in the short-term.
However, experts said that investment abroad remains largely spontaneous. To increase efficiency and effectiveness, the Foreign Investment Department has recommended that businesses carefully study investment procedures, legal issues, the culture, environment and investment fields in the host countries.