Business

Remittances sent to HCM City reach 2.3 billion USD in five months

Overseas remittances sent to Ho Chi Minh City reached 2.3 billion USD this year to early June, down 1.9 percent year-on-year, said the municipal branch of the State Bank of Vietnam.
Remittances sent to HCM City reach 2.3 billion USD in five months ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Overseas remittances sent to Ho ChiMinh City reached 2.3 billion USD this year to early June, down 1.9 percentyear-on-year, said the municipal branch of the State Bank of Vietnam.

The 2019 figure hit 5.3 billion USD, which is forecast todecrease this year due to the impact of COVID-19.

The local remittance companies said remittances in the firsttwo quarters dropped significantly, especially those from major labour exportmarkets of Vietnam such as Japan, Taiwan (China), and the Republic of Korea andtraditional markets like the US, the UK, Canada and Australia.

The World Bank also predicted that the globalremittances will decline by about 20 percent this year due to COVID-19. TheEast Asia and Pacific is expected to see a 13 percent decrease./.
VNA
#overseas remittances #State Bank of Vietnam #Vietnamplus #Vietnam News Agency #World Bank #labour export markets Ho Chi Minh City
Follow VietnamPlus

Related News

Remittances to Vietnam to further rise in 2019

Remittances to Vietnam to further rise in 2019

Remittances to Vietnam are likely to further increase in 2019 because overseas Vietnamese people believe in the stability of the economy and see better investment opportunities, economist Nguyen Tri Hieu said.
Remittances to Vietnam estimated at 16.7 billion USD

Remittances to Vietnam estimated at 16.7 billion USD

Remittance flows into Vietnam are expected to reach 16.7 billion USD in 2019, Vice Chairman of the State Committee for Overseas Vietnamese Affairs (SCOVA) Luong Thanh Nghi cited statistics of the World Bank at a meeting with the press in Hanoi on December 26.
Remittances to Cambodia drop sharply due to COVID-19

Remittances to Cambodia drop sharply due to COVID-19

Cambodia is to join the ranks of declining overseas worker remittances this year after the World Bank projected global remittances will decline sharply by about 20 percent in 2020 because of the economic crisis induced by the COVID-19 pandemic and consequent business shutdowns.

See more

Import and export activities at the Mong Cai border gate. (File photo: VNA)

Vietnam–China crossings see spike in ASEAN fresh produce

Since the start of the summer harvest season, China's two major border gates with Vietnam, Youyi Guan in Pingxiang and Beilun 2 Bridge in Dongxing, have entered their peak period for handling imports of fresh agricultural and seafood products from member states of the Association of Southeast Asian Nations (ASEAN).

Rohit Khurana, an automotive expert at Car Blog India. (Photo: VNA)

Green SM poised to make mark in Indian market

Green SM's strengths, including a dedicated fleet, professional drivers and premium electric limousine models, can help differentiate the company and attract customers seeking higher-quality services in India.

The opening ceremony of the Hue Festival Trade Fair 2026. (Photo: VNA)

Hue Festival Trade Fair 2026 opens with 240 booths

For Hue, the fair is also an opportunity to introduce the image of a dynamic and business-friendly locality while promoting local specialties, One Commune One Product (OCOP) items and outstanding rural industrial products, helping stimulate trade, services, tourism and investment attraction.

Deputy Minister of Finance Cao Anh Tuan at the meeting with the delegation of the RoK Embassy led by Ambassador Choi Young-sam on June 12 (Photo: mof.gov.vn)

Ambassador pledges more contributions to Vietnam – RoK economic links

Deputy Minister of Finance Cao Anh Tuan congratulated Ambassador Choi Young-sam on his successful tenure in Vietnam and praised his contributions to the substantive and productive development of the Vietnam – RoK Comprehensive Strategic Partnership across various fields, including economic and financial cooperation.

The working session between Deputy Minister of Industry and Trade Nguyen Hoang Long and IKC Representative Director and Executive Vice President Atsuhiko Hirano in Hanoi on June 12 (Photo: Vietnamese Ministry of Industry and Trade)

Vietnam, Japan cultivate energy collaboration

Deputy Minister of Industry and Trade Nguyen Hoang Long urged Idemitsu to leverage its role as a strategic shareholder and team up with other partners to respond swiftly to geopolitical shifts, ensuring a stable, sustainable crude oil flow to the refinery.

Leaders of Bamboo Airways and Rakso Holdings Co.Ltd sign an MoU to promote cooperation in the aviation, tourism and service sectors at the forum in Seoul on June 12. (Photo: VNA)

FLC Group seeks to expand investment cooperation in RoK

Ambassador Vu Ho suggested enhancing Vietnam – RoK ties in tourism, aviation and flexible investment models to develop flagship projects meeting high standards, helping herald a new cooperation phase between the two countries.

Delegates press the buttons to launch the Meiko Yen Quang semiconductor manufacturing plant project. (Photo: VNA)

Work starts on 500-million-USD Meiko semiconductor plant in Phu Tho province

The project has an initial investment of more than 500 million USD and will focus on artificial intelligence and space technology-related applications. Once fully operational, it is expected to generate annual revenue of around 530 million USD per year and create approximately 2,000 jobs for local workers.

Coffee, often referred to as the “brown gem” of Lam Dong, is one of the province’s signature agricultural products. (Photo: VNA)

Lam Dong reshapes coffee industry to elevate export value

Lam Dong plans to strengthen branding and trade promotion efforts, develop coffee-growing regions linked to geographical indications, expand digital traceability systems and make greater use of free trade agreements (FTAs) to diversify export markets.