Vietnamese firms’ overseas investment surges in first four months

Monday, May 10, 2021 15:46

A staff member of Lumitel – the brand name of Viettel Group in Republic of Burundi, Africa hands-over leaflets to local people. — Photo

Vietnamese firms invested US$545.9 million in overseas projects in the first four months of 2021, a year-on-year rise of 7.9-fold, according to the Ministry of Planning and Investment.

There were 18 new projects receiving investment certificates with total registered capital worth $142.8 million, up 2.7-fold against the same period last year.

In addition, $403.2 million was pumped into nine existing projects, surging 25.5-fold.

A major part of the capital outflow - $270.8 million - was poured into science-technology projects, accounting for 19.6 per cent of the total figure. Wholesale and retail followed with $147.8 million.

The US was the top destination for Vietnamese capital in the period with $302.3 million, holding a lion’s share of 55.4 per cent.

Cambodia came second with $89.1 million, followed by France, Canada, Germany and the Netherlands.

As of April 20, Viet Nam had 1,417 valid overseas projects totaling $21.8 billion, mainly in the sectors of mining (36 per cent of total capital) and agro-forestry-fisheries. — VNS

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