Business

Remittances to HCM City rise 3 percent to 2.1 billion USD

Remittances to Ho Chi Minh City in the first half of this year rose 3 percent year-on-year to 2.1 billion USD.
Remittances to HCM City rise 3 percent to 2.1 billion USD ảnh 1Illustrative image. (Photo: thesaigontimes.vn)

HCM City (VNA) - Remittances to Ho Chi Minh City in the first half of this year rose 3 percent year-on-year to 2.1 billion USD.

The deputy director of the State Bank of Vietnam’s HCM City branch, Nguyen Hoang Minh, said the remittances mainly went to production and businesses.

Minh forecast that remittances to the city would continue to rise, reaching roughly 5.7 billion USD due to the city’s rapid economic rebound.

Remittances to HCM City, one of the top localities nationwide with the largest volume of remittances, have increased roughly 10-12 percent on average during the past five years.

The rise has been mainly driven by an increase in remittances from the United States and the European Union, Minh said, adding that remittances from China and the Republic of Korea had remained modest.

Remittances to HCM City last year reached 5.5 billion USD, inching up against the 5.2 billion USD received in 2014. More than 70.8 percent of the remittance value flowed to production and businesses, while roughly 21.6 percent went into real estate and 7 percent was destined for relatives.

Compared with last year’s overall remittance of nearly 12.3 billion USD, Vietnam’s remittance for this year has been forecast to increase slightly in the wake of Government policies to encourage overseas Vietnamese to invest in their homeland and due to the warming of the local real estate market.-VNA

VNA
#remittances #rise #overseas Vietnamese Ho Chi Minh City
Follow VietnamPlus

Related News

Remittances flow to HCM City

Remittances flow to HCM City

The remittances to Ho Chi Minh City, which is one of the top localities nationwide receiving the largest volume, reached more than 900 million USD in the first two months this year.
OVs make contributions to HCM City’s growth

OVs make contributions to HCM City’s growth

The Committee for Overseas Vietnamese Affairs (COVA) in Ho Chi Minh City has been making the best of resources provided by Vietnamese people abroad in building the city and the nation as a whole.

See more

Delegates at the conference in Hanoi on July 9. (Photo: hanoimoi.vn)

Inflation pressure in H2 to be driven by exchange rates, credit: experts

Inflationary pressure in the second half of 2025 would remain moderate, as factors driving prices up and down are expected to balance each other out. Assuming the CPI rises by an average of 0.27% per month, matching the average increase in the last six months of the 2015-24 period, the average inflation rate for 2025 is forecasted at 3.4%.

Foreign visitors at Vietnam's booth at Source Fashion London (Photo: VNA)

Vietnamese products make mark at Europe’s largest fashion, textile fair

Le Dinh Ba, Trade Counsellor at the Vietnam Trade Office, said the national pavilion enabled small- and medium-sized enterprises to participate by sending products and catalogues. The exhibition offered a valuable platform for Vietnamese businesses to showcase their capabilities, connect with buyers, and build long-term trade relationships.

Preferential tariff policy aims to support domestic vehicle manufacturers and assemblers, particularly those producing environmentally friendly models. (Illustrative image. Source: VNA)

Auto enterprises to enjoy preferential import tariff policies

The new decree, which took effect on July 8, 2025, revises the minimum production volume criteria for enterprises seeking to benefit from preferential import tariffs on automotive components under the preferential tariff programme. This policy aims to support domestic vehicle manufacturers and assemblers, particularly those producing environmentally friendly models.

The small-sized banking group is forecast to have notable deals in changing the stock exchanges in H2 2025. (Photo: VNA)

Small banks forecast to lead growth in H2

The small-sized banking group is expected to have the strongest growth rate of up to 35% thanks to boosting real estate credit from a low base and starting to accelerate bad debt handling.

Aerial view of cleared land and ongoing demolition at the site of HCM City's Metro Line 2 project. (Photo: thesaigontimes.vn)

Vietnam halts use of German ODA loans for HCM City metro line

The first phase of HCM City's Metro Line No. 2, stretching 11.3km with 10 underground and one elevated station, was approved in 2010 with an estimated cost of 26 trillion VND (994 million USD). That figure was revised to nearly 47.9 trillion VND (1.8 billion USD) in 2019 after delays and cost escalations.

Chairman of the Party Central Committee’s Commission for Policies and Strategies Tran Luu Quang (right) meets with President of AES Vietnam Oliver Marquette on July 9, 2025. (Photo: VNA)

Vietnam pledges support for AES investment in green energy

Tran Luu Quang, Chairman of the Party Central Committee’s Commission for Policies and Strategies, praised AES’s investment performance in Vietnam in recent years and welcomed its long-term commitment, particularly in the field of green and clean energy that supports the country's development and energy transition.

Prime Minister Pham Minh Chinh chairs the third meeting of the steering committee for national key railway projects. (Photo: VNA)

PM urges swift, accountable implementation of key railway projects

As head of the steering committee, PM Chinh reiterated the strategic direction outlined in the 13th National Party Congress, which emphasises the need to continue three strategic breakthroughs, with priority given to railway development and starting work on several sections of the North–South high-speed railway, improving transport connectivity with economic zones, industrial parks, seaports, and airports, and accelerating the pace of urban railway projects in Hanoi and Ho Chi Minh City.