Business

Vietnam in global top 10 for overseas remittances

The World Bank (WB) has announced Vietnam is among the top ten overseas remittance recipients in the world, receiving 11 billion USD last year alone, radio The Voice of Vietnam (VOV) reported.
The World Bank (WB) has announced Vietnam is among the top ten overseasremittance recipients in the world, receiving 11 billion USD last yearalone, radio The Voice of Vietnam (VOV) reported.

WB said thatoverseas remittances hit 542 billion USD globally last year and areexpected to rise to 581 billion USD in 2014 and 681 billion USD in 2016.

Indiatopped the list with 70 billion USD, followed by China (60 billionUSD), the Philippines (25 billion USD), and Mexico (22 billion USD).

Vietnam ranked ninth with 11 billion USD.

Top nine countries remained the same compared to the previous year. In 2012, Vietnam came ninth with 10 billion USD remitted.

Interms of remittances as a share of GDP, the top recipients wereTajikistan (52%), Kyrgyz Republic (31%), and Nepal and Moldova (both25%).

Remittances in Eastern Asian and Asia-Pacific regions wereestimated to grow by 4.8% in 2013 to 112 billion USD. Thailand, Vietnamand the Philippines saw the highest growth thanks to a large number oftheir guest workers.

By 2015, workers can travel freely among ASEAN countries, driving regional remittances to a projected 148 billion USD in 2016.

The WB forecast that global remittances will surge strongly in the short-term.-VNA
Follow VietnamPlus

See more

At the meeting between Minister of Agriculture and Rural Development Le Minh Hoan and visiting FAO Director-General Qu Dongyu. (Photo: VNA)

Vietnam, FAO join hands to boost South-South cooperation on agriculture

United Nations Food and Agriculture Organisation (FAO) Director-General Qu Dongyu's working trip to Vietnam from February 5-8 aims to promote bilateral cooperation in the fields of agriculture, food security, environmental protection, and rural development amid complicated and unpredictable global developments.

Deputy Prime Minister Ho Duc Phoc speaks at meeting of the Steering Committee for Price Management (Photo: VNA)

Deputy PM stresses importance of efficient price management in 2025

Deputy PM Ho Duc Phoc said with the GDP growth target for 2025 of at least 8%, the amount of money injected into the economy will be significantly higher than in 2024, and growth drivers will be stimulated, thereby impacting price indexes, especially consumer prices.

At the business registration office under the municipal Department of Planning and Investment (Photo: VNA)

Number of firms resuming operations in Hanoi surges 44%

New business registrations in Hanoi saw a 24.3% decline, with 2,045 new enterprises receiving certificates. The total registered capital for the new establishments dropped by 53.4% to 13.8 trillion VND (546.1 million USD).

A corner of VSIP Bac Ninh (Photo: VNA)

Bac Ninh wins growing investor confidence

With its potential and local authorities’ flexible and business-friendly policies, Bac Ninh is establishing itself as a magnet for both domestic and foreign investors.

Investors watch the market's movements at a trading office of a securities firm. (Photo: VNA)

Stock market gears up for a new era

The mission of the securities sector is to continuously develop infrastructure, improve service quality, attract international investors and mobilise medium- and long-term capital.

The Cai Mep - Thi Vai deep-water port complex in Ba Ria - Vung Tau province plays a pivotal role in attracting FDI capital to the southeastern region. (Photo: VNA)

Vietnam’s FDI inflow soars by 48.6% in January

The manufacturing and processing industry dominated foreign investment, attracting over 3.09 billion USD, equivalent to nearly 71.3% of total investment and showing a remarkable 99.1% increase year-on-year.

Vietnam's CPI in January 2025 expands by 3.63% year-on-year, while core inflation rose 3.07%. (Photo: VNA)

January CPI up 0.98%

Such factors as adjusted healthcare fees, and higher transportation costs and food prices led to a 0.98% rise in the Consumer Price Index (CPI) in January.

The cargo port in Qingdao, Shandong province, China, on January 13, 2025 (Photo: VNA)

Vietnam - China economic, trade cooperation flourishes

China - Vietnam's economic ties have flourished, with bilateral trade and investment growing rapidly. In 2024, trade reached 260.65 billion USD, up 13.5% from the previous year, while Vietnam is also an important destination for Chinese investors.