Vietnam Overseas Investment Reaches US$2.5 Billion
Sept. 9 – The Ministry of Planning and Investment says Vietnam overseas investment is now worth a total of US$2.5 billion consisting of 317 projects concentrated within the region.
Vietnam investment covers 123 projects with a combined capital of US$1.2 billion in Laos, US$162 million for 7 projects in Malaysia and more than US$153 million for 34 projects in Cambodia.
The projects center mostly on industrial production and construction areas; 136 projects worth US$1.75 billion makes up 42.9 percent of total overseas projects and 69.4 percent of overseas investment capital.
Vietnam investors have also placed stakes on oil production. There is the US$243 million project in Algeria, a US$117 million project in Madagascar and a US$243 million project in Iraq. In addition, investors have also paid almost US$200 million for 14 projects in Russia and eastern Europe.
As of August, Vietnam already disbursed US$1 billion, or 40 percent of its registered overseas investment. Despite increasing investment activity, local investors complain that the process remains frustrating because of all the bureaucracy involved. They suggest that the government needs to organize promotion campaigns and provide consulting services on overseas investments to Vietnamese businesses.
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