Vietnamese firms invest 30.3 million USD abroad in two months

Vietnamese businesses invested 30.3 million USD overseas in the first two months of 2020, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

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Illustrative image (Photo: VNA)
Of that number, 21.4 million USD was poured into 20 new projects while the remaining 8.9 million USD was pledged to two existing projects.

The FIA said restaurant and catering services received the lion's share of Vietnamese investment at 14.3 million USD, 48 percent of the total.
The manufacturing and processing sector ranked second with 8.9 million USD or 29.4 percent, followed by the wholesale and retail sector, logistics, and other services. 

Among the 12 countries and territories where Vietnamese investors were active in the first two months, the US was the largest recipient with 20 million USD, followed by Cambodia with 8.9 million USD or 29.5 percent. Others were Hong Kong, the United Kingdom and Myanmar.

According to analysts, in order for Vietnamese foreign investment to be more effective and reduce the risks, Vietnamese enterprises need to proactively study and keep themselves updated about policy changes, and to co-operate with the local governments and residents of the countries.

It was necessary to comply with local laws, international laws and related regulations in order to avoid possible disputes during the entire investment process, they said. 

More substantive and attractive policies offered by the State to encourage enterprises to increase overseas investment should also be included.

Vietnamese enterprises invested 508.14 million USD abroad in 2019. The amount included 403.15 million USD worth of newly registered capital in 164 projects and 105 million USD worth of additional capital pledged for 29 existing projects.
VNA