Vietnamese firms’ overseas investment rises nearly 2.5-fold in H1

A factory of Masan High-Tech Materials abroad (Illustrative photo: VNA)

Overseas investment by Vietnamese firms neared 547 million USD in the first half of 2021, rising close to 2.5 folds against the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

As many as 24 new projects with a combined registered capital of 143.8 million USD were granted investment certificates in the months, equivalent to 77.6 percent of the same period last year.

Over 403 million USD were added to nine existing projects in H1. They included two projects of the Vingroup conglomerate and its automobile arm Vinfast which were adjusted up by 300 million USD and 32 million USD in the US and Germany, respectively.

Among the 12 fields of investment, Vietnamese firms channeled 270.8 million USD into science-technology projects, accounting for nearly half of the total. Wholesale and retails came second with 148.6 million USD.

The US was the top destination for Vietnamese capital in the period with 302.8 million USD, holding a lion’s share of 55.4 percent.

Cambodia ranked second with 89.2 million USD, followed by Canada and France.

As of June 20, Vietnam had 1,420 valid overseas projects totaling 21.8 billion USD, mainly in the sectors of mining (36.4 percent of total capital) and agro-forestry-fisheries.

Laos was the largest recipient of Vietnam’s overseas investment, making up 23.7 percent of the total capital, followed by Cambodia (13.1 percent) and Russia (nearly 13 percent)./.