Out of $347.3 million the Vietnamese invested in 80 new projects overseas in the first nine months of 2022, bulk amounting to $291.6 million was invested in processing-manufacturing industry including textile-garment manufacturing.
Vietnam is an emerging textile and clothing economy and currently is placed among top 10 global apparel exporters. The tendency of its entrepreneurs to invest outside their country shows that their textile industry has reached maturity. It is worth noting the Vietnamese investments in foreign countries has surpassed $21.6 billion that has been invested in 1584 projects overseas as revealed by the ministry of planning and investment (MPI) Vietnam.
The investment in the first nine months of 2022 was higher by 2.31 percent compared with investments made during the same period last year. The Vietnamese investment that averages $700 million per year is destined to cross $1 billion next year according to a Vietnamese official at Spring Capital Partners. Notably, 24 countries received Vietnamese investment during January to September 2022. Laos emerged as the top destination after which came Singapore, the US, Germany, and the Netherlands.
Vietnamese concern the Vines Energy Solutions JSC emerged as a major investor overseas with investments of $34.68 million each in five projects in the US, Canada, France, Germany, and the Netherlands.
