Vietnam invests over $416 million abroad in 8 months, up 5.2 %

Of the total, $244.37 million was invested in 79 new initiatives, accounting for 70.8 percent of the sum in the same period in 2022, while $171.96 million was added to 18 existing projects, representing a 3.38-fold increase year on year.

Retail and wholesale were the most heavily invested in of the 14 sectors by Vietnamese investors, accounting for $150.28 million (36.1 percent). With $114.32 million, accounting for 27.5 percent, information and communications was the runner-up.

Then came power generation and distribution, agroforestry fisheries, and finance-banking. 

Vietnamese investments arrived in 23 countries and territories between January and August, headed by Canada, which had one new and one enlarged project worth more than $150.2 million. Singapore, Laos, and Cuba came after.

According to the agency, as of August 20, Vietnam had 1,665 active projects overseas with a total investment of roughly $22.1 billion, including 141 by State-owned firms for $11.67 billion, accounting for 52.8 percent of the total.

Mining (31.5 percent) and agroforestry-fisheries (15.6 percent) account for the majority of Vietnamese foreign investment. Laos (24.7 percent), Cambodia (13.3 percent), and Venezuela (8.3 percent) are the top three locations for Vietnamese investment.

Source: VGP