Vietnam’s total overseas investment in the first two months of 2023 reached $115.1 million, 2.6-fold higher than in the same period last year, according to the General Statistics Office (GSO).
Ten projects received new investment licenses with total capital of $109.4 million, a 2.1-fold increase year-on-year, with four projects adding $5.7 million in capital.
The sharp increase in overseas investment compared to last year is mainly due to the Masan Group, through its subsidiary The Sherpa, having invested $105 million to secure 25 per cent of Trust IQ Pte. Ltd. The project targets developing artificial intelligence in retail and consumption. The ceremony for the handing over of the investment license took place at the Vietnam - Singapore Business Forum, held during Prime Minister Pham Minh Chinh’s recent official visit to Singapore.
Information and communications reached $105 million in overseas investment, accounting for 91.2 per cent of the total, services $5 million, or 4.3 per cent, and wholesale, retail, and repair of automobiles, motorcycles, motorbikes, and other motor vehicles $2.2 million, or 1.9 per cent.
Ten countries and territories received investment from Vietnam in the first two months. Singapore led, with $105.5 million, or 91.7 per cent of the total, followed by Israel with $5 million, or 4.3 per cent, and Thailand with $1.6 million, or 1.4 per cent.
As of February 20, Vietnam had 1,617 valid overseas investment projects with total capital of more than $21.89 billion. There were 141 projects from enterprises with State capital, with a total of nearly $11.67 billion, accounting for 53.3 per cent.
Vietnam’s overseas investment focuses primarily on mining (31.8 per cent), and agriculture, forestry and fisheries (15.7 per cent).
Countries and territories receiving the most investment from Vietnam to date are Laos (21.8 per cent), Cambodia (13.4 per cent), and Venezuela (8.3 per cent).
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