Vietnamese businesses invest US$395 million overseas

Vietnam’s total investment capital abroad, including newly registered and adjusted capital, reached US$395 million over the past 11 months of the year, representing a fall of 16.7% year on year.

About 117 new projects were licensed in the reviewed period with a total capital of US$257.3 million, down 35% in value year on year, while 24 projects registered to add US$137.7 million to their original investment capital, up 1.8 times in value, reported the MPI.

Of the total capital invested abroad, wholesale and retail, and repair of cars, motorbikes, and other motorised vehicles topped investment fields in value, with US$153.6 million. They were followed by information and communication (US$120.4 million); and production and distribution of electricity, gas, hot water, steam and air conditioning (US$84.4 million).

The MPI report shows local businesses invested in 26 countries and territories in the first 11 months of the year. Canada topped the recipients, attracting US$150.3 million, followed by Singapore (US$122.5 million) and Laos (US$115.8 million).

Meanwhile, Vietnam attracted nearly US$29 billion in foreign direct investment (FDI) in 11 months, an increase of 14.8% year on year.