FIA under the Ministry of Planning andInvestmentranked Vietnameseinvestmentsin the U.S. andGermanyin the period after Laos, which is a traditional market and neighbor of Vietnam.
Data of FIA showed the ministry allowed Vietnamese firms to invest in 47 new projects in 22 countries and territories and revise up funding for 19 operational projects worth US$155.4 million in the period.
Laos continued attracting much more capital of Vietnamese enterprises with four new and two adjusted projects approved with combined capital of US$53.9 million, accounting for 35% of total registered capital in the period.
The first six months saw Vietnamese enterprises registering US$50.8 million (32.7% of the total figure) for seven new and one operational project in the U.S. Fresh capital pledges for only one new project and one adjusted project inGermanytotaled US$26.5 million (17%).
According to FIA, Vietnamese investors have shifted to new and far markets, instead of focusing on neighboring countries like Laos and Cambodia. In the emerging market of Myanmar, Vietnamese enterprisesinvestedin eight new projects in the January-June period but total pledged capital was not high.
According to FIA, only oneinvestmentproject in the mining sector was approved in the period but its registered capital amounted to US$42.5 million, making up 27.4% of the total. There were 18 new and three adjusted wholesale, retail and vehicle repair projects overseas with a total registeredinvestmentof US$39.3 million (25.3%).
Finance, banking andinsurancetook the third place with US$29.5 million (19%).
In all, Vietnamese enterprises have pledged more than US$20 billion for offshoreinvestmentswith a majority of it going to Laos, Cambodia, Russia, Algeria, Malaysia, Myanmar and the U.S.
In terms of sector, mining has attracted 112 projects worth more than US$5.1 billion, followed by agro-forestry-aquaculture with around 130 projects and over US$2.7 billion. These sectors are Vietnamese enterprises’ strong advantages but local investors have expanded to other sectors in recent years like communications, power generation, real estate, finance, banking andinsurance, according to FIA.
Source: Vietnam Breaking News
Key words: U.S., Germany, appealing to, Vietnam investors
