Socialist Republic of Vietnam

(VNA) During the last two decades, Vietnamese investors have initiated 370 overseas projects worth 5.1 billion USD, according to the Ministry of Planning and Investment’s Foreign Investment Agency.
Most of the projects are in industry, construction, agro-forestry and fisheries, oil exploration and services.
Industrial and construction sectors account for 155 projects with total Investment capital of 4.2 billion USD.
Laos leads 48 countries and territories in attracting Vietnamese investors, followed by Malaysia , Algeria and Cambodia .
Large markets, including the Republic of Korea, Japan, the US, and Taiwan, have also become investment destinations for Vietnamese investors.
Phan Huu Thang, head of the Foreign Investment Agency, said overseas investment has increased strongly since 2008, demonstrating the significant development of Vietnamese enterprises in investment strategies.
In the current economic downturn, overseas investments have created conditions for development of domestic production and exports, he said.
For example, an overseas investment project to build a trade centre in the US offers opportunities for Vietnamese enterprises to enter the US market, and expand production and exports, Thang said.
Overseas projects have helped Vietnamese companies develop, diversify investment and reduce risks, he said.
In order to encourage Vietnamese companies to invest abroad, the Government has also assigned the ministry to continue simplifying administrative procedures for overseas investments.
Thang said co-operation between the ministry and Vietnam ’s representative overseas offices, especially overseas trade offices, will be strengthened to help Vietnamese investors get sufficient information about overseas markets.
Overseas investment is estimated to reach an average of 500 million USD a year within the next few years, according to the Foreign Investment Agency./.