HCM City receives record 6.1 billion USD remittances in 2020 despite pandemic

HCM City (VNS/VNA) - Despite the impact of the COVID-19 pandemic, overseas remittances to Ho Chi Minh City reached a record high of 6.1 billion USD last year, up more than 15 percent from 2019, a city leader told a meeting on March 18.

Duong Anh Duc, Vice Chairman of the city People’s Committee, hailed the contributions made by overseas Vietnamese businesses to the country’s socio-economic development, saying, “Remittances to Vietnam have been worth more than 170 billion USD since 1990.” 

He called on young overseas Vietnamese who have returned to live in Vietnam to establish a diaspora network in the country to better exploit its socio-economic potential.

Vo Thanh Chat, Vice Chairman of the HCM City Committee for Overseas Vietnamese, said last year more than 1,450 overseas Vietnamese were interested in learning about policies related to investment in the city.

It also received donations from overseas Vietnamese such as masks, disinfectants and other equipment in the fight against the Covid-19 pandemic, and almost 10,000 books worth more than 1.1 million USD meant for local universities. 

Overseas Vietnamese have been providing inputs to the city Department of Science and Technology on a draft law for attracting experts in various fields, he said.

The committee would continue to help them maintain their culture abroad, he said. 

More than 5.3 million ethnic Vietnamese live in 130 countries and territories. 

According to Luong Thanh Nghi, Vice Chairman of the State Committee for Overseas Vietnamese, some 600,000 work and study in developed countries, a huge resource for the country, while 500 return to Vietnam every year to invest in various sectors, he added.

In recent years many overseas Vietnamese have returned to start businesses since they see great economic potential in the country. 

Many had very successful careers in other countries, Nghi added./.