Remittances to Ho Chi Minh City totalled 3.16 billion USD in the first half of 2022, down 13% from the same period last year, according to the State Bank of Vietnam (SBV) branch in the southern city.
Remittances to Ho Chi Minh City in the first quarter of this year reached nearly 1.8 billion USD, according to the State Bank of Vietnam’s branch in the city.
In recent years, there has been a “wave” of overseas Vietnamese entrepreneurs and intellectuals returning to Vietnam in groups and organising trade and investment promotion activities, which connect overseas Vietnamese from all around the world.
Although the COVID-19 pandemic has harmed the global economy, remittances to Vietnam in 2021 remained high. In particular, the sum increased sharply at the end of the year, contributing to stabilising the supply of foreign currency in the country and developing the economy.
Remittances to Ho Chi Minh City reached around 6.6 billion USD in 2021, up 9 percent from the previous year, according to Nguyen Hoang Minh, head of the Vietnam Banks Association’s Office in HCM City.
In the run-up to Tet (Lunar New Year), the biggest traditional festival of Vietnam, the inflow of remittances sent by overseas Vietnamese to the homeland has been on the rise, fueled further by local banks’ preferential programmes.
Vietnamese abroad sent home some 12.5 billion USD this year, a year-on-year increase of 10 percent, Standing Deputy Governor of the State Bank of Vietnam Dao Minh Tu told the Vietnam News Agency in a press conference on December 28.
The World Bank (WB) and the Global Knowledge Partnership on Migration and Development (KNOMAD) forecast that the amount of remittances to Vietnam in 2021 could reach 18.1 billion USD, continuing to increase compared to 2020.
The flow of overseas remittances to Ho Chi Minh City reached 5.1 billion USD in the first nine months of 2021, up 22 percent year on year, the State Bank of Vietnam’s Branch in the city has reported.
Oversea remittances to Ho Chi Minh City were worth 3.2 billion USD in the first six months of this year, despite the COVID-19 pandemic roiling on many economies around the world.
Vietnamese abroad sent home 17.2 billion USD worth of remittances in 2020, making Vietnam the third-largest remittance recipient in the East Asia and Pacific region.
Vietnamese abroad sent home 17.2 billion USD worth of remittances in 2020, 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 (KNOMAD).
Ho Chi Minh City will hold a ceremony on April 20 to honour 33 outstanding collectives and 17 individuals of the Vietnamese community abroad, according to the city’s Committee for Overseas Vietnamese.
Ho Chi Minh City received 1.45 billion USD of overseas remittances in the first three months of this year, up 10 percent over the same period last year, reported the city Committee for Overseas Vietnamese Affairs.
Overseas remittances to Ho Chi Minh City rose 10 percent year-on-year to 1.45 billion USD in the first quarter of 2021, according to the municipal Committee for Overseas Vietnamese Affairs.
Despite the impact of the COVID-19 pandemic, overseas remittances to Ho Chi Minh City reached a record high of 6.1 billion USD last year, up more than 15 percent from 2019, a city leader told a meeting on March 18.
The Ho Chi Minh City Committee for Overseas Vietnamese (OV) Affairs must continue to perform well in implementing State management over OVs in the city, giving advice on caring for poor Vietnamese abroad and connecting city leaders and OVs, and strengthening communications on Party and State policies and laws among the community, a city leader has said.
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