Vietnamese investors can spend US $1 bil. abroad next year

Based on a report delivered by the Ministry of Planning and Investment (MPI), in the first ten months of 2008, Vietnamese enterprises poured over US $502.7 million into 52 projects. In other words, the registered investment capital for each project was US $9.7 million. 

With 24 projects and US $239 million, industrial sector largely accounts for 46.1% of the total number of projects and 75.5% of the total capital. 

Vietnamese investors are doing business in 14 countries and territories, among which Laos is the most attractive destination and followed by Cambodia.

Some Vietnamese companies have penetrated into such crucial fields as petroleum, chemical, food processing, banking and tourism.

There have been some large-scale projects on oil exploration, exploitation and refining in Algeria and Venezuela, as well as hydro-electricity plants in Laos.

In general, Vietnamese enterprises are conducting 317 valid projects overseas, with the overall investment of US $2.5 billion, including the disbursement of US $1 billion.

In 2008, the total overseas investment is expected to reach around US $800 million. MPI predicts that approximately US $1 billion will be invested in other countries next year.

In the time to come, when Việt Nam speeds up its integration into the global economy, the Government will introduce more laws and regulations to facilitate overseas investment. Thus, many Vietnamese enterprises are planning to access and exploit resources available in the host countries, such as labor, technology, market and economic exchanges.   

By Kim Anh