According to the Ministry of Planning and Investment, in the first eight months of 2007, Vietnam has invested in 18 projects overseas with the total registered capital of nearly US$ 287 million, thus increasing the total number of Vietnamese overseas projects to 200 with the total capital of US $ 1 billion.
I. Overseas investments by Vietnamese enterprises
Up to now, Vietnam has invested in 33 countries and territories in the world with 200 projects. Besides several projects in the markets which are geographically far from the country such as South Africa, Australia and Republic of Korea, most of the projects are located in nearer markets such as Laos, Cambodia and Singapore…
Among those 200 projets, 70 of them have been implemented in Laos with the capital of US $ 461 million, accounting for 44.7% of the total capital; investment capital in Algeria accounts for 23.5%, and followed by investment capitals in Iraq, Cambodia and the Russian Federation.
Vietnamese enterprises invested mainly in industrial sector and construction-related fields, especially in oil exploration and exploitation, consumer goods manufacturing and processing. Construction materials manufacturing ranks first with nearly 50% of the total projects and 70% of the capital, and then agriculture and service-related business.
Vietnam now ranks third among foreign investors in Laos. In reality, Vietnam contributes a considerable amount of its investment capital in Laos thanks to the large-scale projects such as hydro-power Xekaman 3 project valued at US$ 247 million, the rubber tree plantation project valued at US $ 32 million of the General Rubber Corporation, the rubber plantation project valued at US$ 24 million of Daklak Rubber Company. At present, Laos is in urgent need of investment projects for medical diagnosis centre, trade centre and manufacturing of plastic, pesticide, vegetation protection chemicals, fertilizers, ceramic tile, glass and projects in weaving industry, service and transportation.
II.Future orientation
As forecasted by the Ministry of Planning and Investment, this year the total investment capital of Vietnamese enterprises would reach US$ 300 million. Besides the main markets of Laos and Cambodia, Vietnamese enterprises are reaching to other markets, namely Latin American countries for oil exploration and exploitation and investment in other attracting areas.
In terms of policy, Prime Minister Nguyen Tan Dung has promulgated Decree 121/2007/NĐ-CP which stipulates direct investment to overseas markets in oil exploitation. Under this decree, the Government will consider to invest in oil and gas projects using state capital above 1 trillion VND or capital from economic sectors above 3 trillion VND. Projects which are not regulated by the above-mentioned terms would be decided by their owners and investors. The Decree also provides that within six months from the date of receiving the tax balance sheet or equivalent legal documents as stipulated by the  the laws of investment recipient countries, the investors must remit the net profit to Vietnam after deducting an amount an amount to be spent on re-investment or investment in other oil projects. In the case that there is a need to extend the above-mentioned deadline, the investors must submit the documents presenting clearly the reason to Vietnam State Bank for consideration and decision. The extension is applied at the maximum of two times, and each period of extension is allowed for a maximum of six months
For entrepreneurs, after accompanying President Nguyen Minh Triet in his recent visit to the United States, Mitsustar Vietnam General Director confirmed that his company was to establish soon a Mitsustar Household Goods company in the United States and step by step register  the company on the US stock market. Sai Gon Commercial Bank (Sacombank) would be the first Vietnamese bank opening its representative office in China after it has received the approval from the State Bank’s Governor.
Vietnam Military Telecom Corporation (Viettel) is also carrying out its plan of opening representative offices in Hongkong and the United States after having run its Cambodia Viettel Company project in Cambodia. Viettel is to promote its Overseas Investment Project Board to a joint-stock enterprise with the participation of more partners.
Sai Gon Commercial Corporation also pays great attention to the project of building a large-scale super-market in Vientiane.The investment by Vietnamese enterprises overseas will be more and more increasing, which is expected to reach up to US$ 500 billion in 2008.
(Source:Nhip cau Dau tu Magazine no 43, August 2007;  websites of Communist Party  of Vietnam, Ministry of Finance, Ministry of Planning and Investment, Vietnamnet)