Vietnam Firms Invest $730M Abroad in Jan-Sept: Ministry
Vietnamese companies invested $730 million in foreign countries and territories in the first nine months of this year, said the Foreign Investment Agency under the Ministry of Planning and Investment.
Besides traditional markets of Laos and Cambodia, Vietnamese enterprises were keen on investments in other countries, including Russia, Malaysia, Cambodia, Algeria, the U.S. and Cuba, the agency added.
Mine ores was the most attractive sector for Vietnamese firms with total pledged capital of $3.58 billion, followed by service with $1.12 billion and agro-forestry and seafood with $984.6 million.
Apart from famous names such as Hoang Anh Gia Lai Group, Saign Thuong Tin Joint Stock Commercial Bank (Sacombank), Bank for Investment and Development of Vietnam (BIDV), several enterprises showed their interests aboard like Truong Thanh Furniture Corporation.
Truong Thanh Furniture Corporation signed a Memorandum of Understanding (MoU) with a South African partner to build a $30 million processing plant in the city of Umshwathi. It also plans to grow 10,000 ha of tree in Kwazulu Natal province.
Vietnamese firms have so far invested more than $8 billion in over 500 projects in foreign countries and territories.
This year, Vietnam’s overseas investment is forecast to be higher than the figure of 2009 as the local government has issued many policies to encourage projects abroad, said the agency. (VNS)
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