Vietnam’s overseas investment soars 74 percent in eight months

VNA
Vietnam’s overseas investment surged 74.1 percent year on year to US$575 million in the first eight months of 2021, according to the Ministry of Planning and Investment.
Vietnam’s overseas investment soars 74 percent in eight months ảnh 1 Vietnamese investors channelled $575 million into overseas projects between January and August (Photo: VNA)
The amount included $150.1 million poured into 40 new projects, equivalent to 68.7 percent of the figure in the same period last year, while $424.9 million was added to 13 existing ones, rising 3.8-fold.
With $270.8 million, science - technology tops the 13 sectors Vietnamese investors poured money into, accounting for 47.1 percent of the total overseas investment.
It is followed by wholesale and retail with $150.9 million, equivalent to 26.2 percent; agriculture, forestry, and fisheries; and administrative activities and support services.
Vietnamese investments were channeled into 20 countries and territories during the eight months.
The US was the top destination with $302.8 million, making up 52.7 percent of the total. Cambodia, Laos, and Canada followed, respectively attracting $89.4 million, $47.8 million and $32.1 million.
As of August 20, Vietnam had 1,428 valid investment projects overseas, the majority of which, 36.3 percent, operated in the mining industry and 15.3 percent in the agro-forestry-fishery sector.
Laos was the largest recipient of Vietnamese investment with 23.8 percent, Cambodia 13.1 percent, and Russia 12.9 percent, the ministry’s Foreign Investment Agency said.

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