Viet Nam's overseas investments reach US$20.38 bln

As of August 15,2016, 1,125 Vietnamese project were granted licenses to invest abroad with a total registered capital of US$20.38 billion, according to the Foreign Investment Agency. — Photo baonghean.vn

HA NOI (Biz Hub) — As of August 15,2016, 1,125 Vietnamese project were granted licenses to invest abroad with a total registered capital of US$20.38 billion, according to the Foreign Investment Agency.

In the first eight months of this year, Vietnamese businesses' overseas investments reached $705.8 million with 71 newly licensed projects and 35 adjusted projects.

Since the Law on Investment took effect on July 1, 2014, the Ministry of Planning and Investment has granted outbound investment licenses for over 190 projects, of which 124 are new projects, with a total capital of $933.2 million.

Vietnamese businesses have recently had success investing in foreign countries, including the military-run Telecommunications Group (Viettel), the Telecom firm FPT Corporation, the TH True Milk, and the Vietnam Dairy Products Joint Stock Company (Vinamilk).

The Vietnam National Oil and Gas Group, or PetroVietnam and a number of banks, such as Vietinbank, the Bank for Investment and Development of Viet Nam and the Bank for Agriculture and Rural Development.

Vietnam began investing in overseas projects in 1988. — VNS