The State Bank of Vietnam’s branch in HCM City attributed the surge to the gradual easing of global border controls and health policies in the post-COVID-19 period, resulting in a rise in the number of Vietnamese citizens working abroad.
The 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 by complex socio-political developments.
In response to this trend, Ho Chi Minh City is formulating a project, aimed at attracting and maximizing the utilization of remittances, with specific goals concerning remittance growth rate, social projects in education, health care and environment funded by remittances, as well as the engagement of Vietnamese nationals living and working abroad.
One key objective is to achieve a remittance growth rate of at least 10% annually during the 2023-2025 period and sustain this rate in 2025-2030./.
