Military enterprises asked to raise effectiveness of overseas investment

The Ministry of National Defense ran 33 overseas investment projects valued at over USD 5.46 billion as of the end of 2016. Accordingly, they earned more than USD 180.5 million of revenue and USD 31.2 billion of net profit. The telecommunications sector ranked first with 12 projects valued at more than USD 4.88 billion, and it is followed by industrial crops with 9 projects, and other sectors such as construction, mining and hotel. The military-run telecommunication group (Viettel) and Military Region 4’s Economic Cooperation Corp are taking the lead in investing in foreign markets.

At the meeting, representatives of state management agencies and military enterprises shared experiences and ideas on overseas investment, and proposed some mechanisms and policies to support military-run enterprises in investing in foreign markets and cooperating with international partners. Their ideas include opening more diplomatic agencies in economic hubs of foreign countries, selecting the countries with political stability to invest in, and making good preparation for unstable exchange rates.

Speaking at the event, Senior Lt. Gen. Tran Don highly praised positive results that military-run enterprises had achieved in overseas investment activities, and also asked military enterprises to continue to improve the efficiency of overseas investment activities and international cooperation in the coming time.

Translated by Lam Anh