VN looks abroad for opportunities

The Department for External Investment administered by the Ministry of Planning and Investment, said in the first five months of this year, Vietnamese businesses launched 15 projects in other countries, worth a total of nearly US$ 90 million. According to the department Vietnamese companies are running 200 projects overseas to the tune of US$ 1.059 billion.
Almost all offshore investments have been faring well, the department said, adding, however, that they have been small in size due to Vietnamese enterprises’ modest financial capacity and investment experiences.
Vietnam’s total external investment for this year is expected to reach US$ 300 million, with a particular focus being placed on Laos, the department said.
Vietnamese businesses are also preparing to jump into ventures in oil and gas in Venezuela and Cuba in line with cooperation agreements signed during Party General Secretary Nông Đức Mạnh’s visits to these countries.
Vietnam has so far invested in 33 countries and territories, with the majority being poured into Laos at a figure of US$ 461 million or 44.7 percent of the country’s entire overseas invested capital.
To date Vietnam's offshore investments have mostly been in the fields of oil and gas, services and construction materials, consumer goods, agro-forestry and seafood.

(Source: VNA)