Vietnam’s overseas investment in August surged by 2.5 times compared to last July with US$77.3 million in registered capital, according to data released by the Foreign Investment Department under the Ministry of Planning and Investment.

 Germany tops the list with four new investment projects totally capitalized
at US$92.6 million (Photo: Global Travel) 

The opening eight months of the year witnessed the total newly granted and adjusted Vietnamese investment abroad reach a figure of US$330.2 million, a rise of 15.8% from the same period last year.

Most notably, a total of 86 projects were granted new investment registration certificates, with registered capital reaching approximately US$218.5 million, representing an annual increase of 21.3%. In addition, projects had their capital investment adjusted with an additional capital of US$111.8 million, marking a rise of 13.3% on-year.

August alone saw six projects receive new investment registration certificates whilst eight projects had adjusted investment capital, with the overall figure for newly granted and additionally increased investment capital standing at US$ 77.3 million, equal to 47.8% over the same period last year, despite being 2.5 times higher than the level from July.

According to the Foreign Investment Agency, local enterprises made investments abroad across 13 fields during the reviewed period. Indeed, the processing and manufacturing industry took the lead, with 10 new projects and six projects with capital adjustments featuring registered capital of US$ 225.7 million, accounting for 68.4% of total outward investment capital.

Furthermore, accommodation and catering services were in second place with a total investment of US$39.6 million, making up roughly 12%, followed by the wholesale and retail sectors, along with information communication.

Overall 24 countries and territories were recipients of investment from the country during the initial eight months of the year. Of these foreign locations, Germany tops the list with four new investment projects with total capital of US$92.6 million, constituting 28% of total investment capital. Elsewhere, Laos came in second with a sum of US$86.7 million, accounting for 26.3%, followed by Myanmar, the United States, and Singapore.

Despite the impact of the novel coronavirus pandemic, local firms remain active in conducting investments abroad, as indicated by the eight-month figure which stood at a higher level in comparison to the same period last year. Indeed, this 15.8% rise indicates the persistence and strong resilience of displayed by Vietnamese businesses against external shocks.