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Vietnamese businesses invest US$5.1 billion overseas
During the last two decades, Vietnamese investors have taken part in 370 overseas projects worth US$5.1 billion, 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. The industrial and construction sectors account for 155 projects with total Investment capital of US$4.2 billion.
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.
To encourage Vietnamese companies to invest abroad, the Government has assigned the ministry to continue simplifying administrative procedures for overseas investment.
Overseas investment is estimated to reach an average of US$500 million a year within the next few years, according to the Foreign Investment Agency.
vov, vietnamplus
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