Overseas investment soars by 51.6% in 11 months

Vietnam invested in 151 overseas projects in the first 11 months of 2024, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Hanoi (VNS/VNA) - Vietnam invested in 151 overseas projects in the first 11 months of 2024, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The total registered capital reached 598.69 million USD, marking a 51.6% increase year-on-year.

Vietnamese investors channelled capital into 16 sectors abroad, with science and technology taking the lead, with the figure standing at 200.5 million USD, accounting for 33.4% of total investment capital.

The manufacturing and processing industry ranked second with 108.76 million USD, equivalent to 18.1%; followed by the production and distribution of electricity, gas, steam and air conditioning at 94.57 million USD, equivalent to 15.7%.

Other notable sectors included mining, which garnered 60.67 million USD (10.13%), transportation and warehousing with 38.62 million USD (6.4%), and wholesale, retail and automotive repair services.

Over the past 11 months, Vietnam has invested in 31 countries and territories. Major markets receiving substantial Vietnamese investment include Laos, Indonesia, India, the US and the Netherlands.

Laos topped the list with 160.68 million USD, representing 26.83% of Vietnam's total overseas investment. It was followed by Indonesia with 137.7 million USD (22.9%), India with 90.05 million USD (15.04%), the US with 71.35 million USD (11.9%) and the Netherlands with 54.6 million USD (9.1%).

Some standout overseas projects by Vietnamese businesses in 2024 include the breaking ground on VinFast’s first integrated electric vehicle manufacturing plant in Tamil Nadu, India, covering 160 hectares with an initial investment of 500 million USD over five years.

TH Group has also launched a dairy farming and processing project in Russia with a total investment of 19 billion RUB (about 190.93 million USD).

As of the end of November 2024, Vietnam had 1,813 overseas investment projects with total capital exceeding 22.52 billion USD. Key sectors include mining (7.03 billion USD, representing 31.32%), agriculture, forestry and fisheries (3.39 billion USD, representing 15%), and information and communications (2.84 billion USD, representing 12.6%).

The robust growth in Vietnam's overseas investment activities reflects a clear trend of diversification and aggressive international expansion by Vietnamese enterprises./.