According to the Ho Chi Minh City branch of the State Bank of Vietnam, in the second quarter of this year alone, remittances sent to the city totaled over 2.3 billion USD, up 4.2% from the same period last year.
The capital flow from Asia continued to dominate, comprising over 56% of the total, and up 48.5% year-on-year.
Factors regarding human resources, and labor market continued to positively impact the amount of remittances to the city, in the six months.
Besides, improvements in payment services from banks and remittance companies, contributed to the sharp increase in the remittance flow into the southern economic hub.
Overseas remittances to the city in 2023 hit a six-year record high of around 8.9 billion USD, marking a 35% increase year-on-year.
The influx of remittances into Ho Chi Minh City, and Vietnam as a whole, is expected to see an upward trend in the time ahead./.
