Three years ago, Five Star Vietnam International Corporation cooperated with Cambodia Investment and Development Company to spend 80 million US dollars to establish Five Star Cambodia International Fertiliser plant with a capacity of 350,000 tonnes per year. Five Star Vietnam applied for potash mining investment in Laos and opened more fertiliser plants in Myanmar, said Tran Van Muoi, chair of Five Star Group.

Similarly, Dien Quang Lamp JSC was in the process of building an economic lamp factory in Venezuela. This was a joint project with Venezuela Industrial Oil and Gas group with estimated chartered capital of 300 million US dollars. After putting into operation, total capacity of this company would be 74 million lamps per year.

The CT Group had also jointed new market – Myanmar for four years. This group had two real estate projects in Yagon with total invested capital of more than 150 million US dollars. CT Group was in the process of building a flour factory (with a capital of 20 million US dollars and a capacity of 90,000 tonne flour per year) and an instant noodle factory (with a capital of 3 million US dollars and a capacity of 2,500 tonne noodle per year)

These investments had brought success to investors.

Vidal had business in seven nations: Laos, Cambodia, Mozambique, Cameroon and gains more than 600 million US dollar revenue from these international markets. In 2011, Viettel transferred 40 million US dollar benefit to Vietnam and in 2012, this figure was nearly double, reached 76 million US dollars.

Vietnam Rubber Group (VNG) had 60,000 ha in Cambodia and 30,000 ha in Laos to plant rubber trees. In 2012, the first batch of rubber in Laos brought 38 billion dong interest to this group. To support these rubber processing, one latex processing company with a capacity of 12,000 tonnes per year was built in Laos another one would be build in Cambodia, said Pham Van Thanh, head of the investment board of VNG

Vietnamese enterprises still have no supporting policy for their overseas investments. Specifically, administrative procedures or credit mechanisms showed no support for overseas investments. For example, it takes time to have overseas investment certificates or hosted country require invested money for issuing project certificate while Vietnam require firms to have project to provide money.

In addition, since there were few domestic banks invested overseas, Vietnamese enterprises face difficulties in accessing capital to deploy projects.

Therefore, domestic policies need to be changed to support overseas investment, or else, enterprises will lose their chances for investment.

Tuoi Tre - January 17, 2013