Local firms seek good times overseas

January 07, 2013 | 14:15

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Even though many Vietnamese companies are struggling at home, the latest report of the Ministry of Planning and Investment shows that some have been successfully expanding outbound investment projects.

The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported that Vietnamese companies last year registered to invest in 75 overseas projects in 28 countries with the commitment capital of $1.3 billion.

At the same time, the disbursement capital of Vietnam’s outbound investment projects reached $1.2 billion, an impressive increase of 28 per cent from a year earlier.

Until December 20, 2012, Vietnam’s total outbound investment commitment was $12.4 billion in 712 projects in 60 countries, and the disbursement was $3.8 billion. Most of the projects are focusing on mining, oil and gas, hydropower, telecommunications and forestry, according to the report.

“There is a growing trend of overseas investment projects in Laos, Cambodia and Myanmar that is appropriate to the orientation of Vietnam,” the FIA said in the report.

The agency also reported that some of Vietnam’s outbound investment projects were operating with profits and they brought home $430 million last year.

This year, it is forecasted that Vietnam’s outbound investment commitment will be around $1.5 billion and the disbursement will stay around $900 million.

By Nhu Ngoc

vir.com.vn

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