November 24, 2007
VIETNAM : Investment
Vietnamese businesses invest more than 1.3 billion USD abroad
VietNamNet Bridge - By the end of October, Vietnamese businesses had poured 1.35 billion USD in 241 investment projects in 35 countries and territories, according to the Ministry of Planning and Investment’s Foreign Investment Department.
Phnom Penh, Cambodia, where attracts many projects of Vietnam.
The projects mainly focus on oil and gas exploration and exploitation, household goods production, construction materials, agro-forestry and fisheries and service.
Laos attracted the largest number of Viet Nam ’s investment projects with 84 totalling 580 million USD. It was followed by Cambodia with 27 projects capitalised at 88.5 million USD. Algeria was an exceptional case as Viet Nam ’s only investment project in its oil and gas sector, was valued at 243 million USD.
According to the department, encouraging results obtained by Viet Nam ’s overseas investment projects have prompted more businesses to mull similar schemes so as to expand their markets.
Besides the traditional markets of Laos and Cambodia, Vietnamese businesses are eyeing potential markets in the Middle East, the Africa, the US and Japan, focusing on the consumer goods industry, textiles and apparels, footwear and trade service.
In particular, a number of Vietnamese businesses are targeting the hi-tech market with the Financing and Promoting Technology Corporation (FPT) already launching a project in Japan .
Improvements in the legal system and simplified procedures have encouraged Vietnamese businesses to invest overseas, said economists. Experts forecast that Viet Nam ’s investment capital abroad may reach 350 million USD this year.
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