Vietnam's overseas investment soars 125% in seven months

ABO/NDO – Vietnamese investments overseas soared 125.4% year-on-year to US$570 million in the first seven months of 2021, the General Statistics Office (GSO) announced on July 29.

The sharp increase was largely attributed to extra investment from Vietnam injected into overseas projects, the GSO explained. For example, the Indochina Rubber Investment and Development Co., Ltd. added US$76 million worth of investment to its project in Cambodia; and automaker Vinfast expanded investment in its Germany-based project by US$32 million.

Inside a Vinfast factory (Photo: VNA).

A total of US$424.8 million was pumped into 11 existing projects, surging 9.1-fold year on year.

In addition, there were 28 projects receiving licences overseas with total registered capital of US$145.3 million, plunging 29.6% from the same period last year.

The US was the top destination for Vietnamese capital in the period with US$302.8 million, holding a lion’s share of 53.1%.

Cambodia came second with US$89.2 million, followed by Laos, Canada, France, Germany and the Netherlands.

As of July 20, FDI flows into Vietnam fell by 11.1% year on year to US$16.72 billion, according to the GSO. Some US$10.5 billion worth of FDI has been disbursed during the period, up 3.8% year on year.

(Source: NDO)