The Ministry of Planning and Investment of Vietnam said overseas investment of Vietnamese enterprises has created jobs for thousands of Vietnamese workers and tens of thousands of workers of investment-receiving countries. Do Nhat Hoang, Director of the Foreign Investment Agency, said overseas investment prospects are also very positive in 2013.
In the two-story building about 3 km from the centre of Vientiane, the capital of Laos, a branch manager of a private heavy construction equipment enterprise is calculating data when he is still wearing shorts. "This year, business is less active than last year but the result is pretty good," he said. His two-man branch made more than US$20 million of sales revenue in 2012.
In recent years, Vietnam’s accelerating overseas investment is an opportunity for companies as that of that branch director. The Ministry of Planning and Investment said as of December 20, 2012, Vietnamese businesses had invested in 60 countries and territories with 712 effective projects with a total registered capital of US$12.4 billion. In 2012 alone, 75 new investment projects were licensed with a total registered capital of US$1.3 billion.
"Overseas investment trend has increased significantly in countries suitable to Vietnam’s investment directions like Laos, Cambodia and Myanmar and industries of interest are oil and gas, hydropower, industrial plant, and telecom, "said Do Nhat Hoang, director of the Foreign Investment Agency under the Ministry of Planning and Investment. Military-run telecom group Viettel stood out with telecom projects in seven countries, followed by Vietnam National Oil and Gas Group (PetroVietnam), Vietnam Rubber Industry Group, and some private companies like Hoang Anh Gia Lai Group.
"Some projects have achieved initial success and return profits to the homeland," he said. Profit-making projects to date focus on oil and gas, telecom and rubber industries.
He said Vietnamese consumers brought home some US$430 million. Remarkably, some big investment hydropower projects prepare to bear fruits. This field will rapidly increase profits earned by Vietnamese companies in foreign nations.
"Many hydropower projects invested in recent years boosted up our profitability in heavy equipment and machine trading business," said the branch manager. In Laos, Xekaman 3 hydropower plant is preparing to generate the electricity; Xekaman 1 power plant is quickly preparing for load-free commissioning; Xekaman 4 power plant is scheduled to start generation in 2016; 500-KV transmission line to Vietnam is also being completed.
According to a high-ranking manager at construction firm, Song Da Corporation, hydropower projects in Laos are quickly carried out to supply electricity to Vietnam.
Many private companies do not sit on the sidelines. Hoang Anh Gia Lai Group has spent a lot on Nam Cong 2 and Nam Cong 3 hydropower projects in Attapeu province, Laos. VC Invest is also quick-handed to pick up the Nam Leng hydropower project in Phongsaly province, northern Laos. Meanwhile, Myanmar is also a destination for Vietnamese hydropower investors.
According to statistics, the progress of overseas project implementation of Vietnamese businesses is quickened in recent times. Up to now, Vietnamese companies have disbursed US$3.8 billion, including US$1.2 billion in 2012, up 28 per cent over 2011.
The Ministry of Planning and Investment said overseas investment made by Vietnamese enterprises has created jobs for thousands of Vietnamese workers and tens of thousands of workers of investment-receiving countries. Do Nhat Hoang, director of the Foreign Investment Agency, said overseas investment prospects are also very positive in 2013. The agency estimated that they will register to invest US$1 - 1.5 billion and disburse from US$900 million to US$1 billion.
N.H
Vietnamese
