Monday, July 20, 2009

Vietnam invests $1.5 billion overseas

Tuoi Tre
July 20, 2009

Vietnamese businesses invested US$1.5 billion in 41 overseas projects in the first half of 2009, according to the Foreign Investment Agency.

The majority of the investments were in rubber plantations and wood and rubber processing plants in Laos and Cambodia. Several Vietnamese enterprises invested in oil and gas and services in the U.S. and South American countries.

Last year, outbound investment totaled $2.8 billion, according to the agency.

In the first half, Laos was the top destination of the 48 countries and territories that attracted Vietnamese investors, followed by Malaysia, Algeria and Cambodia.

Vietnamese businesses were also increasingly investing in larger economies, including South Korea, Japan, the U.S. and Taiwan.

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