As of January 2017, Vietnam had channeled almost 21.4 billion USD into 1,188 projects across 70 countries and territories, an official from the Ministry of Planning and Investment has said.
The Bank for Investment and Development of Vietnam (BIDV) holds 65 percent stake in the Lao-Viet Bank in Laos (Photo: VNA)
Hanoi (VNA) – As of January 2017, Vietnam had channeled almost 21.4billion USD into 1,188 projects across 70 countries and territories, anofficial from the Ministry of Planning and Investment has said.
Ofthe total, 5.12 billion USD and 2.89 billion USD went respectively to 270 and191 projects in the two neighbouring countries – Laos and Cambodia. Otherinvestment destinations include Russia and Africa.
Themajority of the Vietnamese investment went to the sectors ofagro-forestry-fishery, telecommunication, mining, and healthcare services.
TheGovernment has worked to facilitate domestic investors to move beyond borders,stated Doan Thanh Nghi, deputy head of the overseas investment desk of theMinistry of Planning and Investment.
Accordingly,the policy on overseas investment regulates that projects worth under 800billion VND (35.1 million USD) and not in the group of conditional investmentsectors can obtain investment licenses within 15 days without submission forapproval of the Nation Assembly (NA) or the Prime Minister (PM). It will takethree days for projects required to get NA or PM approval to receive licencecertificates.
Licensingprocedures, meanwhile, have been simplified and can be done online.
Conditionalinvestment projects are those having impact on national defense-security,social order and safety, ecological environment, education and training, amongothers. -VNA
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The Bank for Investment and Development of Vietnam (BIDV) holds 65 percent stake in the Lao-Viet Bank in Laos (Photo: VNA) 
