Business

Overseas remittances to HCM City up 35% in 2023

The flow of overseas remittances to Ho Chi Minh City is estimated to reach about 8.92 billion USD in 2023, up 35% year on year, said Deputy Director of the State Bank of Vietnam (SBV)’s Branch in HCM City Nguyen Duc Lenh.
Overseas remittances to HCM City up 35% in 2023 ảnh 1Illustrative image (Photo: VNA)

HCM City (VNA) – The flow of overseas remittances to Ho ChiMinh City is estimated to reach about 8.92 billion USD in 2023, up 35% year on year,said Deputy Director of the State Bank of Vietnam (SBV)’s Branch in HCM City Nguyen Duc Lenh.

Lenh attributed the surge to the gradual easing of globalborder controls and health policies in the post-COVID-19 period, resulting in a rise in the number of Vietnamese citizens working abroad.

The SBV’s HCM City Branch predicted a 20% growth rate in remittances next year as the world expects economic recovery. However, the outlook might be clouded by challenges posed bycomplex socio-political developments.

In response to this trend, Lenh said the city is formulating aproject aimed at attracting and maximising the utilisation of remittances, with specific goals concerning remittance growth rate, social projectsin education, health care and environment funded by remittances, as well as theengagement of Vietnamese nationals living and working abroad.

One key objective is to achieve a remittance growth rate of atleast 10% annually during the 2023-2025 period and sustain this rate in 2025-2030./.

VNA
#flow of overseas remittances #Vietnamplus #Vietnam News Agency #complex socio-political developments #Vietnamese citizens working abroad Ho Chi Minh City
Follow VietnamPlus

Related News

HCM City seeks ways to attract more remittances

HCM City seeks ways to attract more remittances

The southern largest economic hub of Ho Chi Minh City is striving to achieve an annual growth rate of at least 10% in the inflow of remittances during the 2023-2025 period and maintains this rate in 2025-2030.

See more

Prime Minister Pham Minh Chinh delivers closing remarks at the Spring Fair 2026. Photo: VNA

Prime Minister attends Spring Fair 2026 closing ceremony

After 12 vibrant and colourful days, the first Glorious Spring Fair 2026 vividly portrayed the vitality of the nation’s economic and consumer activities at the beginning of the new year, leaving a strong impression on the public and business community.

Vu Thi Thuy, Deputy Consul General and Head of the Vietnam Trade Office in Hong Kong Special Administrative Region (China). (Photo: VNA)

Hong Kong experience offers insights for Vietnam–Hong Kong trade cooperation

At this year’s Spring Fair, the Vietnam Trade Office in Hong Kong facilitated the participation of several Hong Kong enterprises in Vietnam to conduct market surveys, seek import sources and showcase their products. Notably, a company under the Hong Kong Productivity Council presented technological solutions for smart homes and smart manufacturing at the event.

People shop for Tet at a supermarket. (Photo: VNA)

Vietnamese goods dominate Tet market in Mekong Delta

In key retail hubs such as Can Tho, Long Xuyen and My Tho, high-quality Vietnamese goods account for 85–90% of Tet market share. Surveys at major supermarket chains and traditional markets show that consumers this year are prioritising locally-processed foods, confectionery and beverages.

Prime Minister Pham Minh Chinh strikes the gong to inaugurate the Vietnam International Financial Centre in Ho Chi Minh City. (Photo: VNA)

Int’l Financial Centre – A catalyst for Vietnam’s economic breakthrough: Deputy PM

Standing Deputy Prime Minister Nguyen Hoa Binh, who chairs the IFC’s Governing Council, said that the establishment of the centre in Ho Chi Minh City and Da Nang represented the initial realisation of a major task set out in the Resolution of the 13th National Party Congress. While characterising the launch as an early milestone rather than a final achievement, he underscored that it reflected meticulous, methodical and determined preparations at multiple levels of government.

Kobayashi Yosuke, Chief Representative of JICA Vietnam. (Photo: JICA Vietnam)

JICA hails milestones in Vietnam partnership amid green, digital push

In line with Vietnam’s development priorities and its goal of becoming a high-income country by 2045, JICA will continue to work with a wide range of partners in both Vietnam and Japan to mobilise technical and financial resources for more sustainable and inclusive cooperation

Vietnam International Trade Fair for Apparel, Textiles and Textile Technologies (VIATT 2026) is expected to expand its scale by 20% compared to last year's edition. (Photo: bnews.vn)

Int’l trade fair for apparel, textiles, textile technologies to open in Ho Chi Minh City

According to Vietrade, VIATT 2026 aims to promote the development of Vietnam’s textile and garment industry by enhancing production technologies, strengthening sustainability, and expanding technical textile segments. The event is expected to create opportunities for international businesses to tap into the growth potential of Vietnam and ASEAN, while enabling domestic enterprises to connect more effectively with global buyers.

Participants at a conference on digital assets in Hanoi on December 10. (Photo: VNA)

Finance ministry seeks public feedback on minimal tax on digital assets

Under the draft, the transfer and trading of crypto assets would not be subject to value-added tax. Individual investors, regardless of residency status, would be required to pay personal income tax at a rate of 0.1% on the gross value of each transfer. This approach mirrors the current tax method applied to securities transactions.

Steel products of Hoa Phat Group. (Photo: VNA)

Vietnam aims to meet 80–85% of domestic steel demand by 2030

Vietnam aims to meet 80–85% of domestic steel demand by 2030. Crude steel production is targeted at 25–26 million tonnes per year, with annual growth of 7–8%, while finished steel output is expected to reach 32–33 million tonnes per year, growing by 5.5–6.5% annually. Per capita steel consumption is projected at 270–280 kg per year.

One of the products granted Halal certification in 2026. (Photo: moit.gov.vn)

Spring Fair 2026 boosts momentum for Vietnam’s Halal sector

The fair’s greatest value for Halal products lies less in immediate revenue than in building trust and standardising business practices. In a market where certification determines entry, it highlights that expansion must begin with fundamentals, standards, raw materials, production processes and readiness.