Vietnam's aggregate investment in foreign markets reached US$416.8 million, marking a 4.6 per cent increase compared to the same period last year.

After decades of overseas investments, 16 State-owned enterprises, primarily PetrolVietnam (PVN) and Viettel, have brought back profits exceeding US$2 billion.

Vietnamese businesses invested abroad in 14 areas in January-August 2023. The information and communications (ICT) industry ranked second with more than $114.32 million.

Vietnam’s outbound investment during the opening eight months of the year surged by 5.2% to reach more than US$416 million against the same period from last year.

Vietnamese investors have injected nearly US$120 million into their projects overseas in the year to date, a sharp drop against the year-ago period, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Vietnam’s outbound investment in the first quarter of the year reached nearly US$119.5 million, equivalent to 56.5% compared to the same period last year, according to the Foreign Investment Agency.

Vietnam ranked third among Laos’ export markets in January with a total value amounting to about 65 million USD.

Mobile World will cooperate with Indonesia retailer Erafone to open stores selling technology products in Indonesia.

Many Vietnamese companies are able to reach the regional and international market after accumulating experience and financial resources in the domestic market.

While private enterprises have made more outward investments, state-owned enterprises (SOEs) have been gradually reducing their investments, reported Bizlive.

Last year saw local businesses pour a figure of US$21 billion into more than 1,300 projects in foreign countries, with profits transferred home reaching roughly US$3 billion, according to the Ministry of Planning and Investment.

Foreign investment in Cambodia has increased rapidly over the past years and Vietnam is among thethree largest investors in the country.

Vietnamese investors are increasing their investments in projects abroad, especially in developed countries, such as Australia and the United States.

Vietnamese firms invested $183 million in overseas projects in the first five months of this year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

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