According to the Foreign Investment Agency, Vietnam has invested approximately $316.4M abroad during the initial five months of this year. This figure accounts for 93.5% of the amount recorded in the corresponding period last year, as reported by the state news agency (VNA).
Out of the total foreign investment, about $142.7M was allocated to 47 new projects, which represents 48.6% of the investment made during the same period in 2022. Additionally, $173.7M was injected into 16 ongoing projects, marking a year-on-year increase of 3.9 times.
Vietnamese investors have been involved in various sectors abroad, with significant focus on retail and wholesale, information and communications, finance, banking, as well as agro-forestry-fisheries, according to WAM.
Between January and May, Vietnam’s investments were directed towards 20 countries and territories, with Canada taking the lead. Canada attracted one new project and one expanded project worth over $150.2M. Singapore, Laos, and Cuba followed suit in terms of investment inflow.
As of May 20, Vietnam has a total of 1,648 valid projects abroad, with a cumulative investment of nearly $22.1B. Among these, 141 projects are owned by state enterprises, amounting to $11.67B, which makes up 52.8% of the country’s total investment.
Vietnamese foreign investment is primarily concentrated in the mining sector (31.5%) and agro-forestry-fisheries sector (15.6%). Key destinations attracting Vietnamese investors include Laos (24.4%), Cambodia (13.3%), and Venezuela (8.3%).