MPI: Vietnam to Invest US$1 Bln Abroad in 2009, +25 per cent On Year
Vietnamese firms are forecast to invest US$1 billion abroad next year, up 25 per cent on year, the New Hanoi newspaper said on December 9, quoting the Ministry of Planning and Investment (MPI).
The MPI has recently submitted a scheme supporting local businesses to promote investments overseas with detailed incentives, the paper said.
The government of Vietnam is considering negotiations and signing investment protection agreements and double tax avoidance with foreign countries. The government also urged local firms to closely work with diplomatic and trade agencies of Vietnam abroad in market surveys and implementation of projects.
Vietnamese top leaders recently had meetings with diplomats, urging them to focus on forecasting capacity and playing a bridging role with foreign countries with aims to expand trade and investment, state media said.
This year, Vietnamese companies are expected to invest US$800 million mainly in industrial, oil and gas, chemicals, energy and services as well as agriculture and forestry sectors, the paper said.
So far Vietnam has 317 valid investment projects abroad with registered capital of US$2.5 billion, of which US$1 billion was disbursed.
There are 24 industrial projects costing US$239 million accounting for 46 per cent in project numbers and 75 per cent of capital term. Big projects are in Venezuela, Algeria and Laos. (New Hanoi)
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