Remittances to HCM City in Jan-Apr valued at 2 billion USD
Remittances to Ho Chi Minh City hit 2 billion USD during January-April, up 11 percent against the same period last year.
Illustrative image (Photo: VNA)The total amount this year is expected to be not lower than that of last year, 6.1 billion USD.
The remittances were mainly channeled to production and business, said Nguyen Hoang Minh, deputy director of the State Bank of Vietnam – HCM City branch.
The resource is not only provided funding for local production and business but also added to the city’s foreign reserves.
There are currently some 2 million residents in HCM City living overseas. They sent home 6.1 billion USD last year, up 15 percent year-on-year.
Meanwhile, Vietnamese abroad sent home a total of 17.2 billion USD worth of remittances, making the country the third-largest remittance recipient in the East Asia and Pacific region, according to the Migration and Development Brief released earlier this week by the World Bank and the Global Knowledge Partnership on Migration and Development./.
You should also see
VNA marks 70th anniversary of Dien Bien Phu Victory with various activities
The Vietnam News Agency (VNA) hosted an array of activities to celebrate the 70th anniversary of the Dien Bien Phu Victory (May 7, 1954 - 2024).
See more
Business
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
