HA NOI — Vietnamese enterprises pumped about US$3 billion into 25 countries and territories last year, according the Ministry of Planning and Investment's Foreign Investment Agency (FIA).
Of the total, $2.93 billion was for 107 new projects. The other $87 million came from nine existing projects that increased their capital levels.
However, actual capital disbursed totalled about $900 million – mainly in the mining industry, in agro-forestry and fisheries, telecommunication, distribution and retail, FIA said.
During the past 12 months, Venezuela attracted the largest share of Vietnamese investment with $1.83 billion. It was followed by Cambodia with more than $387 million, Mozambique with $345 million and Laos with $132 million.
The rate of return on overseas investment remained modest as most large-scale projects were in their early stages, the agency said in its latest report.
FIA director Do Nhat Hoang said it was necessary to monitor overseas investment to regulate capital outflow – and keep the economy stable.
Registered capital for overseas investment in 2011 is expected to reach $1.5-2 billion and a total of $700-900 million actually disbursed.
Vietnamese businesses, including 70 per cent in the public sector, have so far invested more than $8.75 billion in 559 overseas projects. However, only 300 submitted annual reports to agencies.
To better manage overseas investments, the ministry plans to work with provincial business registration offices, tax offices and the police to inspect firms that did not file reports on their overseas projects.
The ministry will ask the police to investigate them and possibly revoke their licences to invest abroad.Source: vnagency.com.vn
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