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Vietnam invests over $347.3mn overseas in last 9 months

Vietnam invested more than $347.3 million in 80 new projects overseas in the first nine months of 2022, which was a 2.31 percent increase year-on-year.

Vietnam invests
Figure: Vietnam invested more than $347.3 million in 80 new projects overseas in the first nine months of 2022.

According to the ministry of planning and investment (MPI), the nation’s current investments in around 1,584 overseas projects have surpassed $21.6 billion, also the government has spent money in 13 sectors abroad during the period.

Meanwhile, More than $291.6 was spent on the processing-manufacturing industry including textile-garment manufacturing.

Notably, 24 countries received Vietnamese investment during January to September 2022. The Laos emerged as the top destination after which came Singapore, the US, Germany, and the Netherlands.

Nguyen MaiChairman at Spring Capital Partners, Vietnam said, “Overseas investment by Vietnamese firms is growing and can surpass $1 billion per year in the future, from about $700 million at present.”

The increase in new overseas investments is partially ascribed to five big projects worth more than $34.68 million each by the Vines Energy Solutions JSC in the US, Canada, France, Germany, and the Netherlands.

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