Firms invest $2 billion in foreign projects [$806 million invested in hydro-power in Cambodia]

January, 30 2012
VNS (Hanoi)

HCM CITY — Vietnamese companies are investing in more overseas projects, with total registered capital amounting to US$2.12 billion last year, according to figures from the Ministry of Planning and Investment.

The investments were for 75 new overseas projects licensed in 2011, and 33 other projects already operating abroad.

The biggest of the overseas projects were in the energy and telecommunications sectors, an MPI report said.

Major projects licensed in 2011 include the Se San Hydro-Power No. 2 Project in Cambodia with total registered capital of $806 million from the Electricity of Viet Nam (EVN); a $408 million telecommunication project invested by the Vietnamese Military Telecommunications Group (Viettel) in Peru; and the $275.2 million Se Kong 3 Hydro-power Project invested by Song Da (Black River) Corp in Laos.

Most of these overseas projects are progressing smoothly. These include a project to cultivate 10,000 ha of rubber trees invested by Dak Lak Rubber Co; a project to cultivate 5,000 ha of rubber trees to be exploited by Hoang Anh – Gia Lai later this year; and a $273 million Senkaman Hydro-power project No. 3 invested in by Song Da Corp. in Laos.

By the end of 2011, Vietnamese firms had invested in 627 projects abroad, with total registered capital up to $10.8 billion.

Disbursements of these overseas projects are estimated at $2.7 billion.

The largest disbursements for overseas investment projects were made by Viet Nam Oil and Gas Group (PetroVietnam) with some $347 million remitted, followed by Viettel with $185 million; Song Da Corp. with $161 million; Viet Nam Rubber Corp. with $134.6 million; Hoang Anh – Gia Lai Group with $39 million, and Indochina Green JSC with $23.7 million.

Vietnamese companies have been licensed for overseas projects in 55 countries and territories.

In addition to major investments for projects in neighbouring countries such as Laos and Cambodia, investments from Vietnamese companies are also in Venezuela, Russia, Peru and Mozambique.