Vietnamese companies favor Laos, US for overseas expansion

By N.T.Tam, Thanh Nien News

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 Vietnam tech giant FPT's office in Myanmar. File photo
Vietnamese companies pledged US$155.4 million for their investment projects in 22 countries and territories around the world in the first half of this year, the Foreign Investment Agency recently reported.
The Ministry of Planning and Investment licensed 47 new projects, while 19 existing projects had their registered capital adjusted, it said.
Laos was the most favorite destination among Vietnamese investors, attracting nearly 35 percent of the pledges. It was followed by the US and Germany, with committed funding of $50.8 million and $26.5 million, respectively.
Eight new projects were registered in Myanmar, which was the highest number for a single destination, the agency under the Ministry of Planning and Investment noted.
Accounting for 27.4 percent of the pledges, mining was the most attractive sector, followed by retail, mechanics, banking, insurance, according to the report.
Last year, Vietnamese businesses pledged over $1.78 billion for 131 projects at 26 countries and territories.
The investment agency did not provide comparative figures, making it impossible to say for sure if overseas investment has fallen this year and by how much. 
But unless Vietnamese investors announce some large-scale projects in the back half of the year, the annual figure for 2015 is likely to fall far behind that of last year. 

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