Vietnam invests in 1,188 overseas projects

As of January 2017, Vietnam had channeled almost USD 21.4 billion into 1,188 projects across 70 countries and territories, an official from the Ministry of Planning and Investment has said.

Of the total, USD 5.12 billion and USD 2.89 billion went respectively to 270 and 191 projects in the two neighbouring countries – Laos and Cambodia. Other investment destinations include Russia and Africa.

The majority of the Vietnamese investment went to the sectors of agro-forestry-fishery, telecommunication, mining, and healthcare services.

The Government has worked to facilitate domestic investors to move beyond borders, stated Doan Thanh Nghi, deputy head of the overseas investment desk of the Ministry of Planning and Investment.

Accordingly, the policy on overseas investment regulates that projects worth under VND 800 billion (USD 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 (PM). It will take three days for projects required 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 having impact on national defense-security, social order and safety, ecological environment, education and training, among others.

Source: VNS

Other news

Most view

An auto shop in HCMC (Photo: SGGP)

Government decree dissipates dream of low cost import cars

Government’s recently issued Decree 116, tightening conditions on auto import, guarantee and maintenance services, has dissipated many consumers’ dream of owning low cost cars when the import tariff on products from ASEAN will reduce to 0 percent next year.
 

Banking-finance

Economy

Self - introduction

Stock market

VN-Index rockets to near 926 points this morning

After increasing 13 points to exceed 900 points on the previous session, VN-Index continued raising 21.27 points this morning to hit 924.89 points with a slew of major stocks advancing in the HCMC Stock Exchange.