Vietnam’s outbound investment in the first quarter of the year reached nearly US$119.5 million, equivalent to 56.5% compared to the same period last year, according to the Foreign Investment Agency.
Of the sum, approximately US$113.3 million was poured into 21 new projects, while seven other projects registered to increase their capital by more than US$6.2 million.
Most notably, both newly-registered and adjusted capital decreased sharply as Vietnamese enterprises chose not to invest significantly abroad in March. Statistics show they invested more than US$115 million abroad during the two-month period.
The majority of outbound investment capital went to the Masan Group’s project to purchase shares of Trust IQ Pte.Ltd Company in Singapore. The US$105 million project aims to develop artificial intelligence that can be used in the retail and consumption sectors.
Vietnamese firms poured capital into 11 industries, of which information and communication took the lead with three new projects and one capital adjustment project with a total registered investment capital of more than US$105.4 million, or 88.2% of the total outbound investment.
The services industry ranked second, with one project increasing its capital by US$5 million, followed by wholesale and retail, healthcare, and manufacturing industries.
Among the 15 countries and territories receiving Vietnamese investment in the reviewed period, Singapore was the largest recipient, followed by Israel, Cambodia, Australia, Thailand, and Laos.
Until March 20, Vietnam has had 1,625 valid overseas investment projects capitalised at nearly US$21.9 billion.
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