Ho Chi Minh City has persuaded more Vietnamese expats to return home to help in spurring its wide-ranging development.

At a conference to launch its work for 2011, the HCM City Committee for Oversea Vietnamese Affairs reported that there are 138 OV professors, associate professors, Ph.Ds, and researchers working in various projects and programmes in the city, which is Vietnam’s biggest economic hub.

By the end of 2010, more than 2,500 OVs registered for doing business in the city with a total charter capital of nearly 37 trillion VND.

The municipal authorities had granted licences to 117 OV-invested projects capitalised at 275 million USD, including 10 projects worth nearly 158 million USD in the Hi-tech Park.

In 2010, OVs’ remittances to Ho Chi Minh City hit 4 billion USD.

Chairman of the municipal People’s Committee Le Hoang Quan said OVs have made sizeable contributions to the city’s annual average GDP growth rate of 11.2 percent over the past five years./.