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Successful overseas investment (21/3)
21/03/2013 - 36 Lượt xem
Do Nhat Hoang, Director of the Agency for Foreign Investment under the Ministry of Planning and Investment, said that in 2012, Vietnamese businesses with overseas investment repatriated their profits totaling about US$430 million but the actual amount might be much higher - this reflected the effectiveness of overseas Vietnamese investment.
Successful overseas Vietnamese investors include the Viettel Group, FPT Group, Vietnam National Oil and Gas Group (PVN), and Vietnam Rubber Group (VRG). They have been firmly positioned in the domestic market and achieved initial successes in foreign markets.
The Viettel Group began to invest abroad in 2006. So far, Viettel has invested US$175 million in Laos, Cambodia, Haiti, Peru, Mozambique and Cameroon, making profits totaling US$120 million. In 2012, revenue from Viettel's overseas investment projects reached US$734 million, 47 percent up on 2011, and these projects brought the group profits totaling US$77 million, a fourfold increase on 2011. Viettel expects that in 2013, its revenue from overseas investment projects will increase 15 percent and profits will reach US$120 million, up 55 percent compared with 2012.
Apart from successful business activities, in 2012, Unitel, a Viettel brand in Laos, won a prize for being recognized as the best telecommunication firm in developing markets at the World Communication Awards (WCA). In Africa, Movitel, another brand of Viettel in Mozambique, was awarded a prize as a business with the best solutions for improving rural telecommunications in Africa at the Africa Telecommunications Awards 2012. Currently, Viettel wants to boost overseas investment in East Timor and Tanzania.
Similar to Viettel, FPT has had many overseas investment projects. The group currently is present in 11 foreign markets. In 2012, its revenue from overseas investment reached about US$90 million, up 30 percent compared with 2011. FPT predicted that in 2013, its revenue from overseas investment would reach US$100 million, and overseas investment would account for about 30 percent of its total profits by 2015.
PVN has invested in 14 countries. In 2012, through overseas investment projects, the group repatriated profits of US$360 million. VRG has carried out eight projects to plant rubber over 27,096ha in Laos and 21 projects in Cambodia, including 19 rubber planting projects with total area of 70,000ha in addition to two rubber latex processing projects. These projects promise to bring VRG high returns in the future.
In early 2013, the Hoang Anh Gia Lai Group announced the inauguration of the Hoang Anh Attapeu Industrial Complex with its investment in the field of sugarcane planting, sugar production and rubber latex processing. On December 25, 2012, the Five Star International Fertilizer Company, a member of the Five Star International Group, inaugurated a fertilizer plant in Cambodia. With total investment of US$80 million, the construction of this project began on December 24, 2009. The plant was designed to have annual capacity of 350,000 tonnes. It was built on an area of nearly 12ha alongside the Trans-Asia route, adjacent to the Mekong River. This favorable location makes transportation easy. It is the largest and most modern fertilizer plant in Cambodia and Southeast Asia as a whole. Through liquefaction technology, the plant is capable of manufacturing various kinds of NPK fertilizer suitable to many crop varieties in different ecological condition. Tran Van Muoi, Chairman of the Five Star International Group and Chairman of the Board at the Five Star International Fertilizer Company in Cambodia, believes the plant will prove highly profitable.
To create favorable conditions for domestic businesses to invest abroad, in March 2012, the Ministry of Planning and Investment presented to the Prime Minister a draft of amendments and supplements to Decree 78/2006/ND-CP regarding overseas Vietnamese investment. In September 2012, the ministry presented to the Prime Minister a strategy to promote Vietnamese investment in Cambodia to 2015 with an orientation towards 2020.
In 2013, registered overseas Vietnamese investment is predicted to reach US$1-1.5 billion with US$900 million-US$1 billion set for disbursement./.
Source: VEN.
Source: VEN.
