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Overseas investments
Though agriculture, commercial forestry and mining remain the major targets for Viet Nam's overseas investments, services like construction, running shopping centres and restaurants, investment consultancy and online gaming are also becoming popular avenues as almost 40 projects were licensed during the first four months of this year.
Nine of the projects are in the US, mostly in the real estate sector, with the investors taking advantage of the opportunities thrown up by the crisis there to acquire high-end hotels and office buildings at attractive prices.
Lilama is set to undertake a construction project in the United Arab Emirates, also creating an opportunity to export around 400 skilled workers.
Two major projects, each worth around US$40 million, are in Cambodia - the establishment of a branch of the Vietnam Agriculture and Rural Development Bank (Agribank) and a forestry project by the Duc Nhan Joint Stock Company.
Viettel, the military-owned telecom company, has seen profits soar after investing in the country, and is currently negotiating to buy a 60-per-cent stake in a Bangladeshi mobile phone network, Teletalk, and a 70-per-cent stake in Haiti's Teleco network.
The value of the two deals is estimated at $359 million.
Vietnamese companies concluded several memorandums of understanding last month with businesses in Myanmar in the areas of banking, telecom services and shopping malls operation.
Overseas investment from Vietnamese businesses reached a record $7.73 billion in 2009, with $6 billion going to Cambodia.
Thuy Anh
vietnamnews
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