Vietnamese firms increase overseas investment
![]() |
Metfone, a telecommunications project of Viettel in Cambodia.Vietnamese firms were increasing their overseas investments in recent years in an effort to expand their global reach — Photo Viettel |
The Ministry of Planning and Investment’s report recently submitted to the Government showed that Việt Nam registered US$528.78 million in 172 projects in 33 countries and territories in 2019, representing a year-on-year increase of 10.7 per cent.
Of note, all the registered overseas projects last year were of private companies in Việt Nam and there were no new overseas projects by State-owned enterprises (SOEs).
The ministry said that more private companies were increasing investment abroad, such as Vingroup, Vietjet, Thaco, FPT, T&T, Vinamilk and TH Group, even to developed markets.
As of the end of 2019, Vietnamese firms has so far registered to invest a total of $20.6 billion in 1,321 projects in 78 countries and territories.
Five companies with more than $1 billion in registered overseas investment were PetroVietnam, Viettel, Vietnam Rubber Group, Hoàng Anh Gia Lai Group and Long Thành Golf Investment and Trading Joint Stock Company.
Of the figure, some $9.49 billion was disbursed, mainly in the sectors of mining ($3.5 billion), telecommunications ($1.61 billion), agriculture ($1.56 billion), electricity production ($809 million), financial and banking ($787 million) and real estate ($384 million).
The ministry’s statistics also showed that the the profit remitted totalled $3 billion and around $363 million in profit was kept for reinvestment.
Around 10,000 labours from Việt Nam were working at Việt Nam’s overseas projects.
Laos was the largest receiver for Việt Nam’s overseas investment with a total registered capital of $4.9 billion, followed by Russia ($2.8 billion), Cambodia ($2.7 billion), Venezuela ($1.8 billion), Myanmar ($1.3 billion), Algeria ($1.2 billion), the US ($690 million) and Australia ($400 million).
Regarding overseas investment of SOEs, the ministry’s statistics showed that SOEs registered to invest $13.8 billion abroad, $6.7 billion of which was disbursed.
PetroVietnam invested in 27 projects abroad with a total registered capital of $7.1 billion. Viettel had 10 overseas projects worth $3 billion. Vietnam Rubber Group invested in 23 projects worth $1.3 billion.
The ministry said that some overseas projects of SOEs were running efficiently while some were struggling.
Around half of overseas projects of PetroVietnam were in stagnation or could not be implemented, the ministry pointed out.
Vietnam National Coal and Mineral Industries Group was also seeking to transfer five projects in Cambodia and Laos due to inefficiencies.
Vietnam Airlines was also seeking to divest from the loss-making Cambodia Angkor Air in which it held a stake of 49 per cent.
The ministry also warned about several risks in overseas investment.
Some projects were heavily dependent of banking loans for capital, the ministry said, urging reviews to be carried out to ensure safety and efficiency for the banking system.
The ministry also warned about risks which might arise when investing in localities involved in armed conflicts or with political-social instabilities, localities with legal risks and tax havens.
Currently, there were no regulations which set requirements or limit investments in these risky localities, the ministry said.
The Government Office has asked the ministry to evaluate the results of 10 years implementing the project of promoting overseas investment and develop orientations for investing abroad by 2025 then report to the Prime Minister within the last quarter of this year.
The Ministry of Finance was asked to study amendments to the law on State capital at enterprises towards tightening overseas investment of SOEs to improve efficiency.
The State Bank of Việt Nam would cooperate with the Ministry of Planning and Investment to evaluate overseas investment of commercial banks, loans to overseas projects to ensure system safety.
A list of risky localities for investment would be developed to limit risks for Vietnamese investors.
The ministry’s statistics revealed that Vietnamese firms invested $222.67 million abroad in the first half of this year, up by 11.4 per cent against the same period last year.
See also

Seeking driving force for 2023 economic growth
06:00 | 01/02/2023 Economy

Intertwined opportunities, challenges for Vietnam’s economy in 2023
07:00 | 30/01/2023 Economy

Industry and trade sector drives development
06:00 | 22/01/2023 Economy

The right direction for Lam Dong to break through into the global supply chain
08:58 | 10/01/2023 Economy

Nghe An Province increases local content of industrial products
06:00 | 06/01/2023 Province

Vietnam records best-ever performance in digital economic development
16:51 | 03/01/2023 Digitalization
See more news

Vietnam looks to market forces to boost growth
06:00 | 02/01/2023 Economy

The path to fostering green exports
06:00 | 30/12/2022 Trade

Mastercard Economics Institute: Economic Outlook 2023
11:04 | 27/12/2022 Economy

Ba Vi, the place to buy Hanoi specialties
15:00 | 26/12/2022 Metropolis

Rural products fall short of potential
10:00 | 24/12/2022 Industry promotion

Mitsubishi Power to upgrade two gas turbines at Tuas Power
09:45 | 20/12/2022 Energy

Trade deals: The good, bad and unpredictable
06:00 | 20/12/2022 Trade

Industry-trade sector eases regulation
06:00 | 15/12/2022 Economy

Two 2023 growth scenarios for Vietnam
06:00 | 13/12/2022 Economy

PM: Green economic development a top priority
06:00 | 12/12/2022 Economy

Prime Minister demands faster disbursement of public investment capital
17:29 | 03/02/2023 Policy

Trade ministry to support enterprises in boosting exports
13:19 | 03/02/2023 Foreign trade

Food and beverage industry to do well this year despite modest economy
13:00 | 03/02/2023 Industry

Leaders pay tribute to President Ho Chi Minh on Party’s founding anniversary
11:57 | 03/02/2023 News and Events

Hunting for real estate investment opportunities after Tet
09:32 | 03/02/2023 Property
Multimedia

Five-day holiday for workers during Reunification Day period
06:00 | 03/02/2023 Tourism

Vietnam plans to attract Chinese tourists
07:00 | 01/02/2023 Tourism

Khmer's ginger cake of love and faithfulness
09:00 | 03/02/2023 Photo

Dutch diplomat donates Vietnamese paintings to national museum
06:00 | 01/02/2023 Lifestyle

Key missions, solutions to socio-economic development in 2023
07:00 | 01/02/2023 Infographic

Prime Minister demands faster disbursement of public investment capital
17:29 | 03/02/2023 Policy

Deputy FM highlights role of economic diplomacy in service of national development
11:05 | 01/02/2023 Policy

Việt Nam supports expansion of UN Security Council
06:00 | 30/01/2023 Policy

Prime Minister assigns tasks to Deputy Prime Ministers
07:00 | 17/01/2023 Policy

Food and beverage industry to do well this year despite modest economy
13:00 | 03/02/2023 Industry

Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization
15:05 | 02/02/2023 Industry

Hanoi eyes 950 firms in support industries this year
06:00 | 02/02/2023 Support industries

Vietnam to reduce environmental impact of textile-garment industry by 2030
06:00 | 01/02/2023 Industry

Greening foreign investment
06:00 | 03/02/2023 FDI

Southeast region prepares for new FDI wave
09:18 | 02/02/2023 FDI

January FDI nears US$1.7 billion
14:46 | 31/01/2023 FDI

Viet Nam calls for more investment in green growth
16:52 | 22/01/2023 FDI

Tax revenue up 4.4 percent year-on-year in January
08:40 | 03/02/2023 Finance-Banking

State-owned banks under capital increase pressure
10:52 | 01/02/2023 Finance-Banking

Positive prospects for Vietnam’s stock market this year
14:48 | 31/01/2023 Stock Market

Positive 2023 securities market forecasts
06:00 | 20/01/2023 Stock Market

Vietnam looks ahead to 2023 climate summit
06:00 | 25/12/2022 Environment

Preserving nature, facilitating business
06:00 | 10/12/2022 Environment

AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather
11:40 | 24/11/2022 Environment

JTI Vietnam commits to net zero greenhouse gas emissions
16:25 | 15/11/2022 Environment

Managed security provides IT talent gap solution for businesses in SEA
16:34 | 30/01/2023 Information technology

Headquarters of Vietnam-Korea Institute of Science and Technology inaugurated
09:23 | 30/01/2023 Science - Technology

WHO to share mRNA vaccine technology with VietNam
09:14 | 30/01/2023 Science - Technology

Welcoming the year of digital data for Vietnam
16:57 | 22/01/2023 Digitalization

Hunting for real estate investment opportunities after Tet
09:32 | 03/02/2023 Property

Vietnamese university up 97 places in Webometrics ranking
10:00 | 02/02/2023 Society

PM inspects national key transport projects
09:36 | 31/01/2023 Society

A great chance to invest in commercial property
10:46 | 30/01/2023 Property

Nestlé Vietnam and the journey to sustainable development
13:00 | 10/01/2023 Companies

VIMC embarks on strong recovery
06:00 | 10/01/2023 Companies

MM Mega Market launches a new modern Giá tốt business model
16:18 | 30/12/2022 Vietnamese Brands

PVCFC develops experts’ system
08:00 | 25/12/2022 Vietnamese Brands

Khmer's ginger cake of love and faithfulness
09:00 | 03/02/2023 Photo

Dutch diplomat donates Vietnamese paintings to national museum
06:00 | 01/02/2023 Lifestyle

Tet impressive in foreign ambassadors' eyes
14:49 | 30/01/2023 Lifestyle

Norwegian Ambassador experiences Vietnamese Tet traditions
06:00 | 28/01/2023 Lifestyle

Five-day holiday for workers during Reunification Day period
06:00 | 03/02/2023 Tourism

Vietnam plans to attract Chinese tourists
07:00 | 01/02/2023 Tourism

The lure of Pu Luong
06:00 | 31/01/2023 Entertainment

Tourism is back, big time
06:00 | 30/01/2023 Tourism