Business

Remittances to HCM City rise 14 percent in August

Remittances to the country’s business hub, Ho Chi Minh City, in August increased 14 percent from July, mainly from the US and Europe, according to the State Bank of Vietnam (SBV)’s HCM City branch.
Remittances to HCM City rise 14 percent in August ảnh 1Remittances to HCM City continue rising in the the remaining time of the year. (Source: AFP/VNA)

HCM City 7 (VNA) – Remittances to the country’s business hub, Ho Chi Minh City, in August increased 14 percent from July, mainly from the US and Europe, according to the State Bank of Vietnam (SBV)’s HCM City branch.

Nguyen Hoang Minh, Deputy Director of the SBV-HCM City branch office, said the August figure brought the remittances to the City in eight months to 2.85 billion USD, up nearly 6 percent against the same period last year.

He estimated that the amount would hit 5.7-5.8 billion USD for the whole year.

According to banks in the city, remittances mainly flow into manufacturing and business (making up 80 percent), real estate (13 percent) and other fields.-VNA

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