Vietnam promotes overseas investment

So far, Vietnam has invested in 63 countries and territories in 891 projects worth nearly US$20 billion.

Laos ranks first among Vietnam’s investment partners with 249 Vietnamese projects worth US$7.4 billion, followed by Cambodia with 161 projects with registered capital of US$3.4 billion.

Vietnam has 55 projects in Singapore, 22 in Myanmar and 19 in Russia. Most of the projects focus on mining, agriculture, forestry, fisheries, telecommunications and technology.

Viettel, Vinamilk, FPT, the Vietnam Rubber Group and state-funded banks are the largest investors, but overseas investment by the private sector and SMEs has been rising.

In recent years, Vietnamese enterprises have increased investment in Laos, Cambodia, and Myanmar through bilateral cooperation mechanisms. Many Vietnamese projects in Laos have been profitable.

These include rubber and sugar cane plantations of the Hoang Anh Gia Lai Group, Vietnam Rubber Group, Dak Lak Rubber Tree Company, and a number of other projects of Vietttel, the Lao Viet Joint Venture Bank and some Vietnamese banks.

The two countries’ governments have accelerated a number of strategic projects including a pipeline from Hon La port in Vietnam’s Quang Binh province to Laos’ Khammuon province, and an electricity-grid project between Vietnam’s Pleiku city and Laos’ Xekaman province.

Meanwhile, Vietnam’s investment projects in Cambodia are concentrated in agriculture, energy, finance, banking, and insurance. These projects have contributed to the economic growth of both countries, especially their border provinces, and have generated thousands jobs. A number of Cambodian agricultural products exported to Europe, Japan, and the Republic of Korea are supported by Vietnamese enterprises.

Of the 30 largest investors in Myanmar, Vietnam ranks 8th in invested capital-US$513 million. Vietnamese investment in Myanmar is concentrated in finance, banking, insurance, and telecommunications.

Vietnam also has 19 investment projects worth US$2.47 billion in Russia focused on oil, gas, and trade. They include Rusvietpetro, Gazpromviet and the Hanoi Trade Center in Moscow.

In Venezuela, Vietnam has 2 investment projects valued at US$1.8 billion and a number energy, oil, gas and telecommunications projects in Peru which are worth US$1.3 billion.

Tran Kim Chung, Chairman of the CT Group, said overseas investment will help Vietnamese enterprises improve their competitive edge in the context of international economic integration.

Overseas investment has contributed to Vietnam’s economic growth, helped Vietnamese enterprises to expand their markets and brought opportunities to gain new technologies and experience in investment management./.

Source: VOV5