Vietnam pours 20 billion USD abroad

Hanoi, May 20 (VNA) – Vietnam poured a combined 20 billion USD in new and additional capital abroad as of this April, according to the Ministry of Planning and Investment’s Overseas Investment Agency. Laos and Cambodia remain major markets attracting Vietnam’s outbound investment, with a respective 3.9 billion USD (26 percent) and 3.2 billion USD (22 percent). Vietnam also channeled 968 million USD into 18 projects in Russia, 1.8 billion USD in two projects in Venezuela, and 1.3 billion USD in six projects in Peru. Other Vietnamese capital markets include Malaysia, Myanmar and the US. Mining is Vietnam’s predominant field overseas with 11 projects worth 5.1 billion USD, equivalent to 11.5 percent of the projects and 34 percent of the total capital. It is followed by agro-forestry-fisheries with 2.7 billion USD in 125 projects, accounting for a respective 18 percent and 13 percent. Others include information, communications, electricity, real estate, finance-banking and insurance. Aside from State-owned corporations Viettel, Vinamilk and Vietnam Rubber Group, the private sector and small- and medium-sized enterprises are eyeing foreign markets. Last year, 12.5 percent of licensed outbound projects were from individuals while 76 percent were from private businesses, including the high-profile BKAV, Hoa Sen and Kym Dan, among others./.