Vietnam Reports Viet Kieu Investment of US$300Mln
Vietnam attracted around US$300 million of direct investment from Viet Kieu or overseas Vietnamese as of August last year, mainly into its industry and services, according to the Ministry of Planning and Investment.
The sum has remained modest, the ministry said, though Vietnam has highly appreciated great contributions from overseas Vietnamese in technology transfer, tourism promotion, and intelligence for Vietnam’s economic development.
Many overseas Vietnamese investors say Vietnam should further reform administrative procedures and have more practical and synchronous policies to attract more direct investment from them.
Between 2000 and 2005, each year Vietnam welcomed 350,000 overseas Vietnamese, who returned to Vietnam for leisure, business, and investment purposes.
Every year only 200 overseas Vietnamese return to Vietnam to working, whilst the country reports 300,000 Vietnamese intellectuals abroad.
Vietnam now has around 2.7 million overseas Vietnamese living in 90 countries in the world, including 1.3 million in the US, 300,000 people in France, 250,000 in Australia, and 180,000 in Canada. Up to 80 per cent of the total live in developed industrial nations.
Investment
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