Vietnam’s overseas investment sees 2.3-fold rise in seven months: FIA
Vietnam’s overseas investment totalled 570.1 million USD in the first seven months of 2021, a 2.3-fold increase from the same period last year, data from the Ministry of Industry and Trade’s Foreign Investment Agency (FIA) showed, reflecting Vietnamese firms’ efforts to expand foreign markets.
Hanoi (VNA) – Vietnam’s overseas investmenttotalled 570.1 million USD in the first seven months of 2021, a 2.3-foldincrease from the same period last year, data from the Ministry of Industryand Trade’s Foreign Investment Agency (FIA) showed, reflecting Vietnamesefirms’ efforts to expand foreign markets.
In March, multi-sectoral giant Vingroup registered toinvest in four new projects in France, the Netherlands, Canada and Singapore,and inject additional investment into projects in the US and Germany. The totalmount of registered and added investment is estimated at 450 million USD.
It forms part of the conglomerate’s plan to go global,following the footsteps of military-run telecom group Viettel and dairyproducers Vinamilk and TH. The group is also aiming to turn its subsidy VinFast intoone of the world’s leading electric and smart vehicle makers.
According to the Ministry of Finance, Vietnamese firmsearned more than 7.02 billion USD in revenue from their overseas projects in2019, up 27 percent from the previous year. They brought back over 3 billionUSD in profits while overseas retained earnings reached 400 millionUSD.
Major Vietnamese investors posted positive businessresults overseas in the first half of this year. Viettel Global generatednearly 5.26 trillion VND (about 230 million USD) in gross revenue in the secondhalf of the year, up 22 percent year on year.
Vinamilk said its foreign branches’ gross revenue rose by12.8 percent year on year to 859 billion VND from April to June./.
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Vietnamese firms invested 545.9 million USD in overseas projects in the first four months of 2021, a year-on-year rise of 7.9-fold, according to the Ministry of Planning and Investment.
Vietnamese firms poured 546.7 million USD into overseas projects in the first five months of 2021, more than triple the figure of the same period last year.
Overseas investment by Vietnamese firms neared 547 million USD in the first half of 2021, rising close to 2.5 folds against the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
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The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Production at a Vinamilk factory. (Photo: VNA)
