Vietnamese overseas investment exceeds 187 million USD
Vietnamese enterprises invested nearly 184.7 million USD in overseas projects in the first five months of 2018, according to the General Statistics Office (GSO) under the Ministry of Planning and Investment.
Hanoi (VNA) - Vietnamese enterprises invested nearly 184.7 millionUSD in overseas projects in the first fivemonths of 2018, according to the General Statistics Office (GSO) under theMinistry of Planning and Investment.
Some 144.7 million USD was pumped into 48 new projects, while therest was earmarked for 14 existing ones.
During the period, finance and banking drew the greatest interestfrom the Vietnamese investors, accounting for 57.3 percent of total investmentcapital, or 105.8 million USD.
Major banks such as the Joint Stock Commercial Bank for Investment andDevelopment of Vietnam (BIDV), the Vietnam Joint Stock Commercial Bank forIndustry and Trade (Vietinbank), the Saigon Thuong Tin Commercial Joint StockBank (Sacombank), the Military Bank (MB) and the Saigon-Hanoi Commercial JointStock Bank (SHB) are seeking to make inroads in new foreign markets.
The finance and banking sector was followed by the manufacturingand processing, ago-forestry and aquaculture sectors.
From January to May, Vietnamese businesses invested in 24 countriesand territories. Among them, Laos luredthe lion’s share of investments with 43.4 percent of total funds, the GSO said. Apart from traditional markets such as Laos, Cambodia and Myanmar,Vietnamese businesses are expanding to other markets like Australia, NewZealand, the US, Canada, Haiti and Cameroon.
Cuba has emerged as the third biggest investment destination ofVietnamese enterprises after Laos and Cambodia.
According to the ForeignInvestment Agency (FIA) under the Ministry of Planning and Investment,Vietnamese firms registered to invest 19.9 million USD in Cuba in the firstfour months of 2018 despite geographical distance.-VNA
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Illustrative image (Source: Internet) 
