Vietnam’s investment captial overseas reaches nearly US$398.3 million during past nine months

Thursday, 29/09/2022 15:45
Vietnam’s new and adjusted investment capital overseas during the past nine months of the year reached nearly US$398.3 million, VOV reported the details given by the Ministry of Planning and Investment.
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The processing and manufacturing industry takes the lead in Vietnam's overseas investment (Photo: baodautu.vn) 

These figures are equivalent to 69.6% against the same period from last year. In line with this, some US$347.3 million was poured into 80 new projects, accounting for more than 87% of total Vietnamese investment capital throughout the reviewed period and representing a 2.31 fold-increase against the same period last year.

The MPI attributed this sharp rise in capital outflow to five newly-licensed projects by VinES Energy Solutions Joint Stock Company to the United States, Canada, France, Germany, and the Netherlands, with total investment capital exceeding US$34.68 million per project.

Meanwhile, over US$50.9 million was added to 15 existing projects, equivalent to 12% compared to the same period from last year.

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 Photo for illustration (Source: https://thuonggiaonline.vn)

The majority of capital outflow was poured into 13 industries, of which the processing and manufacturing industry took the lead with 11 new projects capitalized at over US$291.6 million, accounting for 55.2% of total investment capital from the nation to countries abroad.

Banking, finance, and insurance activities ranked second with more than US$35.3 million, followed by wholesale and retail, agriculture, forestry, fisheries industries.

Vietnamese investments were largely channeled into 24 countries and territories during the reviewed period, with Laos being the largest recipient of Vietnamese investment with US$66.42 million, making up 16.7% of total investment capital.

Singapore ranked second with a nearly US$41.5 million, holding nearly 10.4% of the total investment capital, followed by the US, Germany, and the Netherlands,

As of September 20, Vietnam is involved in 1,584 valid overseas investment projects totaling more than US$21.6 billion.

Vietnam to become “new Asian tiger”: Italian journal

According to VNA, Vietnam may become a “new tiger” in Asia, commented Italy’s La Repubblica daily after the World Bank raised the Southeast Asian country’s growth forecast.

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Goods loading at Hai Phong port (Photo: VNA) 

The journal cited data from the World Bank East Asia and Pacific Economic Update showing that the region may record growth of 3.2% this year and 4.6% next year.

Vietnam is predicted to lead the region with growth of 7.2%, higher that the bank’s earlier forecast of 5.3%. The bank also gave growth forecast for other regional countries, including Malaysia (6.4%), the Philippines (6.5%), Indonesia (5.1%), and Cambodia (4.8%).

Basing on this statistics, La Republica held that the new Asian tiger in 2022 will be Vietnam.

Analysts asserted that factors promoting the growth of Asia, except China, include the ending of restriction measures to prevent the COVID-19 pandemic, the reopening of borders, and the resumption of consumption and industrial production.

At the same time, the rise in commodity prices due to the global energy crisis also has a role to play in boosting the region's export-dependent economies, they said.

Vietnam’s GDP rises by 13.67% in third quarter: statistics office

Vietnam’s gross domestic product (GDP) grew by 13.67% in the third quarter, VNA reported the statistic given by the General Statistics Office (GSO).

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Illustrative image (Photo: VNA) 

The three months posted such high growth as the same period last year which saw the COVID-19 pandemic breaking out strongly and seriously affecting production and business activities.

With upbeat signs reported in almost all aspects between January and September, the GDP was estimated to rise 8.83% for the period, the highest nine-month growth recorded in 2011-2022.

In the context, the GSO also pointed out that the agro-forestry-fishery sector grew by 2.99% in the first nine months.

The industry and construction, meanwhile, increased by 9.44%, contributing 41.79%; and service rose by 10.57%.

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The press briefing  by the General Statistics Office  (Source: VNA)

Regarding GDP use, final consumption expenditure climbed 7.26% over the same period last year; accumulated assets rose by 5.59%; exports of goods and services up 8.94%; and imports of goods and services up 4.74%.

Head of the GSO Nguyen Thi Huong speaks at the September 29 press conference that releases the third quarter and nine-month growth statistics (Photo: VNA)

Head of the GSO Nguyen Thi Huong said in the period, ministries, sectors and localities have drastically implemented the Government’s resolutions serving the nation’s programme for recovery and socio-economic growth.

As a result, macro-economy was stabilised, inflation put under control, major balances ensured, monetary and fiscal policies conducted flexibly and effectively, business investment environment improved positively, and social security guaranteed, she noted./.

Compiled by BTA

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