Vietnamese firms poured 546.7 million USD into overseas projects in the first five months of 2021, more than triple the figure of the same period last year.
Illustrative image (Photo: VNA)
Hanoi (VNS/VNA)- Vietnamese firms poured 546.7 million USD into overseas projects in the first five months of 2021, more than triple the figure of the same period last year. Of the sum, 144 million USD was from 21 newly-licensed projects, down 11.3 percent year-on-year, according to the Ministry of Planning and Investment. Meanwhile, 403.2 million USD was pumped into nine existing projects, surging 22-fold year-on-year, the ministry said. A major part of the capital outflow - 271 million USD - was poured into thescience-technology sector, accounting for 49.5 percent of the total. The wholesale and retail sector came next with $148.4 million or 27 percent, following by the agro-forestry-fisheries sector and auxiliary services. Fifteen countries received investment fromVietnamfrom January to May with the US the top receiver with 303 million USD, holding the lion’s share of 55.4 percent. It was followed by Cambodia with 89.1 million USD or 16.3 percent. Next were Canada and France with 32.1 million USD and 32 million USD, respectively. Vietnamese firms have increased their overseas investments in recent years to expand their global reach. As of May 20, Vietnam had 1,420 validoverseas projectsworth a total of nearly $22 billion, mainly in the sectors of mining, with 36.4 percent of total capital, while agro-forestry-fisheries had 15.3 percent. Laos was the largest receiver for Vietnam’soverseas investment, making up 24 percent of the total capital, followed by Cambodia (13.1 percent) and Russia (13 percent)./.