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Việt Nam’s overseas investment soars 74 per cent in eight months

Việt Nam’s overseas investment surged 74.1 per cent year on year to US$575 million in the first eight months of 2021, according to the Ministry of Planning and Investment.

The amount included $150.1 million poured into 40 new projects, equivalent to 68.7 per cent of the figure in the same period last year, while $424.9 million was added to 13 existing ones, rising almost four fold.

With $270.8 million invested, science – technology tops the 13 sectors Vietnamese investors poured money into, accounting for 47.1 per cent of the total overseas investment.

It is followed by wholesale and retail with $150.9 million, equivalent to 26.2 per cent and agriculture, forestry, and fisheries, plus administrative activities and support services.

Vietnamese investments were channelled into 20 countries and territories during the eight months.

The US was the top destination with $302.8 million, making up 52.7 per cent of the total. Cambodia, Laos, and Canada followed, attracting $89.4 million, $47.8 million and $32.1 million respectively.

As of August 20, Việt Nam had 1,428 valid investment projects overseas, the majority of which, 36.3 per cent, operated in the mining industry and 15.3 per cent in the agro-forestry-fishery sector.

Laos was the largest recipient of Vietnamese investment with 23.8 per cent, Cambodia 13.1 per cent, and Russia 12.9 per cent, the ministry’s Foreign Investment Agency said. — VNS