VN’s investment booms abroad
10:06 | 10/09/2008
VGP – Việt Nam’s outward investment activities continues to soar, and more and more Vietnamese enterprises are capable of expanding their operations abroad, said the Foreign Investment Agency (FIA).

Up to now, Việt Nam has had 317 investment projects in other countries, with the total capital of US $2.5 billion. Vietnamese businesses are now operating in 14 countries and territories, mainly in Asia. Laos is the largest destination, attracting 123 projects (accounting for over 50% of investment capital), followed by Cambodia (34 projects with US $153 million) and Malaysia (7 projects with US $162 million).

By the end of July 2008, the disbursement of outward investment reached US $1 billion, accounting for 40% of the total capital. Industrial sector took the largest proportion, equal to 58.6% and 60% of the total implemented and registered capital respectively.

Total investment capital abroad in 2008 is expected to reach US $500 million, up 20% over 2007, said the FIA, adding that Vietnamese enterprises focus on such fields like petroleum, electricity, mining, telecommunication, transport, import-export and retail activities.

The State bodies are drastically streamlining administrative procedures; reducing administrative intervention into outward investment projects; giving enterprises with greater responsibility and activeness; and gradually decentralizing competence to license outward investment activities, said the Ministry of Planning and Investment.

Currently, the Government is also finalizing agreements with some countries on promoting and protecting investment, and on avoiding double-taxation. It is expected to facilitate the outward investment of Vietnamese enterprises.

By Ngọc Vân

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