Vietnam invests US$21.4 billion in nearly 1,200 overseas projects

Doan Thanh Nghi, deputy director of the MPI’s overseas investment department, revealed the figures on February 17 on the sidelines of a workshop on Vietnamese investment in agriculture in the Greater Mekong Subregion.

Some of the largest recipients of Vietnamese investment are Laos and Cambodia, with US$5.12 billion in 270 projects and US$2.89 billion in 191 projects, respectively.

Russia and Africa are also promising markets for Vietnamese investment.

The areas that Vietnamese companies have poured money into are primarily agriculture, forestry, telecommunications, mining and healthcare.

Nghi said a number of policies have been introduced to facilitate overseas investment.

For projects with capital under VND800 billion (US$35.2 million) and not on the list of conditional businesses, licences will be granted within 15 days without the need to ask for approval of the National Assembly or Prime Minister.

For projects requiring the National Assembly or Prime Minister’s approval, the MPI will grant investment licences after three days.

Dossiers on overseas investment have also been simplified, and investors can submit their documents via the web and track their processing status in an open and transparent manner.