Vietnam’s total investment abroad reached US$570.1 million in the first seven months of this year, nearly 2.3 times higher than the same period last year, with the largest investment poured into the US, according to Foreign Investment Agency.

During the seven-month period, 28 new projects were licensed with total registered capital of US$145.3 million, equivalent to 70.4% of the same period last year, and 11 projects registered to increase capital by US$424.8 million, an increase of 9.1 times over the same period last year.

Vietnamese investors poured funding into 12 areas, with the largest investment of US$270.8 million in professional and science and technology activities, accounting for 47.5% of total investment.

Wholesale and retail ranked second with total investment of US$148.6 million, accounting for 26.1% of the Vietnam’s total overseas investment, followed by agriculture, forestry and fishery area, administrative activities and support services.

Vietnam invested in 18 countries and territories in the first seven months of this year with 53.1% of the total amount being poured into the US. Three new projects were licensed while two existing projects registered to increase capital in the US market with total newly registered and supplemented capital of US$302.8 million.

Cambodia came in second with investment capital of US$89.2 million, accounting for 15.6% of total investment capital, followed by Laos and Canada with investment capital of US$47.8 million and US$32.1 million, respectively.

By July 20, 2021, Vietnam had 1,423 valid projects abroad with total investment of US$21.8 billion, focusing in the areas of mining, agriculture, forestry and fishery. The countries receiving the largest investment from Vietnam include Laos, Cambodia and Russia.