November 28, 2007
VIETNAM : Investment
VN firms looking to invest abroad
HCM CITY — Vietnamese companies are increasingly seeking investment opportunities abroad, according to the Ministry of Industry and Trade.
Early this month, the Viet Nam Oil and Gas Group (Petro Viet Nam) opened its representative office in Laos to prepare for a series of projects, including a hydro-electricity plant in Luang Prabang.
The plant, with investment capital of US$2 million, is capable of generating 1,400 MW.
Vietnamese investors include PetroVietnam, Viet Nam Electricity Group, Song Da Construction Corporation, and the Bank for Investment and Development of Viet Nam.
Petro Vietnam has also received a license from the Lao government to explore gas and oil on 14,000 sq.km inthe provinces of Champasack and Saravan.
The company is proposing other oil exploration projects in Laos, including a gas and oil depot in southern Laos, and a mineral exploitation project.
Electricity Viet Nam has already begun building two hydroelectricity plants, Sekaman 1 and Sekaman 3.
The Sekaman 3 has a capacity of 250MW with an investment capital of US$273 million.
Deputy Minister of Industry and Trade Bui Xuan Khu said this year 33 Vietnamese projects worth US$350 million will be invested abroad.
Petro Vietnam’s oil exploration and exploitation in Algeria has registered with the government to increase capital by US$208 million, following the discovery of oil this year.
The rubber industry also sees Laos as a good place to invest.
The Hoang Anh Gia Lai Corporation in the Central Highlands plans to grow 20,000 hectares of rubber in Laos, with an expected yield in 2012.
Investment in Cambodia is mostly in service, trade and retail sales. A number of companies have also eyed investment opportunities in high-tech industries.
Viet Nam’s Financing and Promoting Technology (FPT) Corporation has begun an information technology project in Japan.
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