Vietnam’s overseas investments rise

By VNA March 5, 2023 | 08:44 pm PT

An oil exploitation project of Petrovietnam in Algeria. Photo courtesy of Petrovietnam

Vietnam’s outbound investments reached $115.1 million in the first two months of this year, 2.16 times higher than that the same period last year, according to the General Statistics Office (GSO).

Of the sum, $109.4 million was poured into 10 new projects, a 2.1-fold rise year-on-year. Meanwhile, four other projects increased their capital by nearly $5.7 million.

Vietnamese firms invested in 10 sectors abroad, including information-communications, services, wholesale and retail, health care, processing and manufacturing.

Singapore was the biggest recipient of the investments, with a combined capital of US$105.5 million poured into a new project and another existing one. It was followed by Israel and Laos.

Vietnamese conglomerate Masan Group’s subsidiary The Sherpa received a license to place $105 million in Singapore-based tech firm Trust IQ Pte. Ltd. The project is part of Masan's strategic goal by 2025 to create a consumer - retail - technology ecosystem.

As of February 20, Vietnam counted 1,617 valid overseas projects valued at more than $21.89 billion, with 141 by State-invested firms worth some $11.67 billion, making up 53.3% of the total.

Laos, Cambodia and Venezuela lured the most Vietnamese investments, mainly in mining, and agriculture, forestry and fishery.