Vietnam’s outbound investments reached USD 115.1 million in the first two months of this year, 2.16 times higher than that the same period last year, according to the General Statistics Office (GSO) under the Ministry of Planning and Investment.
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| Vietnam’s outbound investments reach USD 115.1 million in the first two months of this year, 2.16 times higher than that the same period last year.__Photo: VNA |
Of the sum, USD 109.4 million was poured into 10 new projects, a 2.1-fold rise year-on-year. Meanwhile, four other projects increased their capital by nearly USD 5.7 million.
Notably, Vietnamese conglomerate Masan Group’s subsidiary The Sherpa received a license to place USD 105 million in Singapore-based tech firm Trust IQ Pte. Ltd. The project is part of Masan's strategic goal by 2025 to create a consumer - retail - technology ecosystem.
Vietnamese firms invested in 10 sectors abroad, including information-communications, services, wholesale and retail, health care, processing and manufacturing.
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| Illustrative image__Source: VNA |
Singapore was the biggest recipient of the investments, with a combined capital of USD 105.5 million poured into a new project and another existing one. It was followed by Israel and Laos.
As of February 20, Vietnam counted 1,617 valid overseas projects valued at more than USD 21.89 billion, with 141 by State-invested firms worth some USD 11.67 billion, making up 53.3 percent of the total.
Laos, Cambodia and Venezuela lured the most Vietnamese investments, mainly in mining, and agriculture, forestry and fishery.-(VNA/VLLF)
