HÀ NỘI — The Foreign Investment Agency under the Ministry of Planning and Investment reported that Việt Nam's overseas investment in 2024 rose by 57.7 per cent year-on-year to US$664.8 million.

The capital went towards 164 new projects and towards increasing funding for 26 projects already in operation.

The agency said that in 2024, Vietnamese investors put capital into 16 sectors abroad, with science and technology taking the lead, accounting for 30.2 per cent of total investment capital. 

In second place was the processing and manufacturing industry, accounting for 21 per cent of the total - 8.7 times higher than the same period last year - followed by electricity production and distribution with 14.2 per cent, up 12.1 per cent year-on-year.

Around 31 countries and territories received investments from Việt Nam in 2024. Major markets receiving substantial Vietnamese investment include Laos, Indonesia, India, the US and the Netherlands.

Laos topped the list, representing 28.8 per cent of Việt Nam's total overseas investment. It was followed by Indonesia with 20.7 per cent and India accounting for 13.5 per cent.

Some standout overseas projects by Vietnamese businesses in 2024 include the groundbreaking for VinFast’s first integrated electric vehicle manufacturing plant in Tamil Nadu, India. The plant will cover 160 hectares and had an initial investment of $500 million over five years.

TH Group has also launched a dairy farming and processing project in Russia with a total investment of 19 billion rubles (about $190.93 million).

As of the end of 2024, Việt Nam has invested in 1,825 valid foreign projects with a total capital of more than $22.6 billion.

In the past few years, Vietnamese investors have invested abroad mainly in the mining sector (more than $7 billion, accounting for 31 per cent of capital); the agriculture, forestry and fishery sector ($3.4 billion, accounting for 15 per cent of capital); and information and communication (about $2.8 billion, accounting for 12.6 per cent of capital). — VNS