UK Invests $688 Million in Oil & Gas Projects offshore Vietnam

Tuan Minh

14:40 17/11/2015

BizLIVE - United Kingdom companies have poured $688.17 million in five oil and gas projects offshore Vietnam as of October 20, accounting for 15.51% of UK investment in the country.

UK Invests $688 Million in Oil & Gas Projects offshore Vietnam

The perspective view of the UK-invested Empire City Complex in Ho Chi Minh City. (Photo: VnExpress)

UK businesses have 222 valid investment projects in Vietnam with a combined capital of $4.44 billion, putting the country the 15th-largest investor in Vietnam, according to the Foreign Investment Authority under the Ministry of Planning and Investment.
The real estate sector topped UK-invested industries in Vietnam, with eight projects having a combined capital of $2.06 billion, accounting for 46.43% of UK investment.
The manufacturing and processing sector came second with 79 projects worth $1.37 billion, followed by the mining sector with $691.2 million.
Among localities, Ho Chi Minh City is the most favored destination of UK investors, attracting 83 projects worth $1.75 billion from the European country. The second largest amount of UK investment runs to oil and gas projects worth $688.17 million. Dong Nai province ranks third with $665 million.
Sizable projects implemented by UK investors include the $1.2-billion Empire City in Ho Chi Minh City, the $519-million Aqua real estate project in Dong Nai and the $507-million oil exploration project at Block 06-2.