Vietnamese Businesses to Make More Overseas Investments
Jan. 12 – The Foreign Investment Agency forecasts that local businesses will make more investments overseas following last year’s 457 projects worth US$7.2 billion in more than 50 countries and territories.
Last year surpassed average overseas investments by a huge margin with agriculture projects accounting for 40 percent of projects or a majority 68 percent of all total investment. This was followed by the service industry with 19 percent of the projects releasing more than US$2 billion in funds.
According to Nhan Dan, overseas markets for Vietnamese businesses were usually Laos, Cambodia, Russia, Malaysia and Algeria. Other international investment destinations included Japan, the Republic of Korea, the United States and Singapore. Vietnamese investors tend to do well in the Laos and Cambodia market with projects increasing to an average of US$14.2 million per project.
Vietnam has 60 projects in Cambodia worth almost US$900 million. In Laos, Vietnamese companies are also betting big with the Long Thanh Golf Investment and Trade Joint Stock Company investing US$1 billion in a golf course and five-star hotel project.
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