Vietnam invests nearly US$280 million abroad in seven months

14:56 | 03/08/2018 Investment

Vietnam has invested in more than 100 overseas projects worth US$279.63 million in the first seven months of this year, according to the Foreign Investment Agency (FIA), under the Ministry of Planning and Investment.

The financial and banking sector attracted the largest investment by Vietnamese firms - Illustrative image

The FIA announced that Vietnamese firms have invested US$238.33 million in 81 new projects abroad and increased their investment capital by US$41.3 million in other 21 existing projects in the January-July period.

The financial and banking sector attracted the largest investment by Vietnamese firms, posting a total newly registered and supplemented capital of US$105.77 million, accounting for 37.8 pct of the total investment capital.

It was followed by the agricultural, forestry and fishery sector with a total investment capital of US$63.84 million, occupying 22.8 pct of the total investment capital. Meanwhile, the manufacturing sector came in third with US$45.47 million worth of investment, making up 16.3 pct of the total overseas investment.

In the seven-month period, Vietnam invested in 32 countries and territories worldwide, with the largest investment poured in Laos at US$84 million, accounting for 30 pct of total investment abroad. Australia came in second with US$37.1 million worth of investment, equivalent to 13.3 pct of the total investment capital.

Cambodia, Cuba and Myanmar were also among the largest receivers of Vietnamese investment.

Meanwhile, total foreign direct investment (FDI) committed to Vietnam in the first seven months of 2018 was estimated at US$22.94 billion, up 4.6 pct over the same period last year.

Theo NDO