Remittances to HCM City hit 6.1 billion USD in 2020
Remittances to Ho Chi Minh City still rose by 12 percent year-on-year to 6.1 billion USD in 2020 despite the COVID-19 pandemic, according to the State Bank of Vietnam’s Branch in HCM City.
Illustrative image (Photo: VNA) Hanoi (VNA) – Remittances to Ho Chi Minh City
still rose by 12 percent year-on-year to 6.1 billion USD in 2020 despite the
COVID-19 pandemic, according to the State Bank of Vietnam’s Branch in HCM City.
The figure is around 600 million USD higher than the forecast by financial organisations.
In recent years, remittances to the city have grown by 8-10 percent on average each year, mostly those from the US, Europe, Australia and Taiwan (China).
In particular, remittances from the US to HCM City have so far accounted for around 30-40 percent of the country’s total./.
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