(VOVworld) – The Foreign Investment department of the Ministry of Planning and Investment has released data on Vietnam’s direct investment abroad. To date, Vietnam has invested in 59 countries and territories around the world a total capital of 15.5 billion USD. The figure shows that Vietnamese businesses have gradually integrated into the world economy.

The ceremony to open a VNPT's project in Cambodia (Photo: VEN)

In the first quarter of this year , 22 additional Vietnamese projects worth 720 million USD were initiated. Vietnam mainly invests in mining which accounts for more than 72% of registered capital, followed by catering and hospitality with 12.6%, and information and telecommunications with 8.9%. Five projects added investment capital totaling 1.9 billion USD. Two of the five are the project of the Vietnam National Oil and Gas Group’s Rusvietpetro joint venture in Russia which increased its capital to 1.4 billion USD and the Vietnam National Chemical Group’s salt exploration project in Laos which increased its capital by approximately 520 million USD. Russia, Laos, and Myanmar are the nations which have attracted the most investment capital from Vietnamese companies. Nguyen Van Toan, Vice President of the Association of Vietnamese investors abroad, said “This is a positive sign which indicates the growth of Vietnamese enterprises. It shows that Vietnamese companies are stronger than those of the host countries against difficulties in the overseas investment environment. Vietnam has invested in additional advanced economies including Japan, the Republic of Korea, the US, and the EU.”

Vietnam’s overseas investment has seen remarkable early results. The Hanoi-based Duc Duong Company which specializes in mechanical and interior products branded Ocean Door is one good example. Phan Xuan Hung, the company’s director, says that its overseas investment aims to boost exports and promote Vietnamese trademarks abroad. He noted “overseas investment by Duc Duong Company has been done professionally from studying current developments in the host country, its markets, and legal system, through exhibitions, trade fairs, and meetings with clients. We are promoting a number of projects in Dubai and the United Arab Emirates and hope that products branded Vietnamese will be introduced to the global market expeditiously.”

Vietnam’s overseas investment has generated jobs for thousands of people at home and in the host countries. Such investment helps Vietnamese companies expand their market share, access advanced technologies, and improve competitiveness.

To Tuan