Logo of Phnom Penh Post newspaper Phnom Penh Post - VN investment abroad triples in January-May

VN investment abroad triples in January-May

Content image - Phnom Penh Post
The Kingdom received $89.1 million in investment from Vietnam from January to May, accounting for 16.3 per cent of the country’s total outbound investment capital. VIETTEL

VN investment abroad triples in January-May

Vietnamese firms poured $546.7 million into overseas projects in the first five months of 2021, more than triple the figure of the same period last year.

Of the sum, $144 million was from 21 newly-licensed projects, down 11.3 per cent year-on-year, according to the Ministry of Planning and Investment.

Meanwhile, $403.2 million was pumped into nine existing projects, surging 22-fold year-on-year, the ministry said.

A major part of the capital outflow – $271 million – was poured into the science-technology sector, accounting for 49.5 per cent of the total. The wholesale and retail sector came next with $148.4 million or 27 per cent, following by the agro-forestry-fisheries sector and auxiliary services.

Fifteen countries received investment from Vietnam from January to May with the US the top receiver with $303 million, holding the lion’s share of 55.4 per cent. It was followed by Cambodia with $89.1 million or 16.3 per cent. Next were Canada and France with $32.1 million and $32 million, respectively.

Vietnamese firms have increased their overseas investments in recent years to expand their global reach.

As of May 20, Vietnam had 1,420 valid overseas projects worth a total of nearly $22 billion, mainly in the sectors of mining, with 36.4 per cent of total capital, while agro-forestry-fisheries had 15.3 per cent.

Laos was the largest receiver for Vietnam’s overseas investment, making up 24 per cent of the total capital, followed by Cambodia (13.1 per cent) and Russia (13 per cent).

VIET NAM NEWS/ASIA NEWS NETWORK

MOST VIEWED

  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • New int’l airport nearly half complete as travel industry returns to life

    Construction of a new airport that is slated to serve the capital has passed the 43 per cent completion mark, raising prospects for a proper recovery in the civil aviation and tourism sectors as international travellers return to the Kingdom in increasingly large numbers. The figure

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,