Vietnamese businesses invested US$458.8 million in 31 foreign markets in the first 11 months of 2019, reported the Foreign Investment Agency under the Ministry of Planning and Investment.
According to a report on Vietnam News Agency, in the reviewed period, US$353.8 million was invested in 148 new projects, while US$105 million was added to 29 underway ones.
Related: Investment Consulting services in Vietnam
Retail and wholesale was the most attractive sector for Vietnamese investors in 11 months, which attracted 25.8% of the total capital the firms invested abroad.
Meanwhile, agro-forestry-fisheries ranked second with a 14.3% share, and IT came third with 13.1%, according to the agency.
Australia drew the highest amount of capital from Vietnam at US$141.3 million, accounting for 30.8% of the total, followed by the US, Spain and Cambodia.
Experts forecast that Vietnam’s overseas investment would continue to increase if the world economy stays stable. Meanwhile, free trade agreements which Vietnam has joined could help drive local enterprises to seek investment opportunities in foreign markets thanks to tax cuts.
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