US becomes Vietnam's top investment destination in early 2024

In the first three months of 2024, the US market attracted 23 percent of Vietnam's total outbound investment capital.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, Vietnamese investors initiated 22 new investment projects abroad and adjusted investment capital in two instances during the same period. Vietnam's total overseas investment amounted to US$28.94 million, equivalent to 24.2 percent compared to the same period last year.

Vietnamese investors have expanded into nine sectors overseas. Among these, the highest concentration of investment capital is in wholesale and retail trade, constituting 39.8 percent of total capital, followed by real estate business activities with 18.6 percent of total capital and construction with 17.3 percent of total capital.

Thirteen countries and territories received investments from Vietnam in the first three months of 2024. The countries that attracted the most investment from Vietnam are the US (23 percent), New Zealand (20.3 percent), and Germany (18.6 percent), respectively.

As of February 20, 2024, Vietnam has maintained 1,720 active outbound investment projects, with a total investment capital exceeding $22.12 billion.

Vietnam's outbound investments are predominantly concentrated in the mining sector (31.5 percent) and agriculture, forestry, and fisheries (15.5 percent).

The top destinations for Vietnamese investments are Laos (24.7 percent), Cambodia (13.2 percent), and Venezuela (8.3 percent).

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