Vietnamese Firms to Expand Operations in New Markets in 2010
Vietnamese companies will expand their operations in the U.S., Latin America, South Africa and the East Europe in 2010 besides the traditional ones of Laos, Cambodia and Russia, the Ministry of Planning and Investment (MPI) said.
Local firms will boost their investment in the U.S. in the fields of retail, import-export and tourism and services, the MPI said.
Meanwhile, they will invest more in South Africa and Latin America in the sectors of agriculture, mining, tourism and petroleum, the MPI added.
The MPI noted that, in 2010, Vietnam will continue building and completing legal mechanisms and policies as well as accelerating administrative reform to create favorable for overseas investment.
The country will also encourage local companies to invest abroad in the areas of energy, oil and gas exploration and production, mining, industrial crop cultivation and material projects.
In 2009, Vietnamese businesses poured US$7.18 billion into 457 projects in 50 countries and territories, including US$6 billion worth of contracts signed with Cambodia at an investment promotion forum on December 26 in Ho Chi Minh City.
The figure surpasses 43% of the full-year target and is over two folds higher than country’s total overseas investment in the 1989-2008 period, according to the MPI.
Vietnamese companies have to date disbursed US$2 billion in their projects abroad in 2009.
(Banking Times)
Vietnamese
