Viet Nam invests in 1,188 overseas projects
Viet Nam invests in 1,188 overseas projects
Viet Nam had channeled almost US$21.4 billion into 1,188 projects across 70 countries and territories as of January 2017, an official from the Ministry of Planning and Investment said.
Of the total, $5.12 billion and $2.89 billion, respectively, was invested in 270 and 191 projects in the two neighbouring countries – Laos and Cambodia. Other investment destinations include Russia and Africa.
The majority of Vietnamese investment went to the sectors of agro-forestry-fishery, telecommunication, mining and healthcare services.
Doan Thanh Nghi, deputy head of the overseas investment desk of the Ministry of Planning and Investment, said the Government had worked to facilitate domestic investors to move beyond borders.
Accordingly, the policy on overseas investment regulates that projects under VND800 billion ($35.1 million) and not in the group of conditional investment sectors can obtain investment licenses within 15 days without submission for approval of the Nation Assembly (NA) or the prime minister. It will take three days for projects to get NA or PM approval to receive licence certificates.
Licensing procedures, meanwhile, have been simplified and can be done online.
Conditional investment projects are those with impact on national defense-security, social order and safety, ecological environment, education and training, among others.
