Data from the State Bank of Vietnam’s HCM City Branch (Region 2) show that total remittances to the city reached US$7.969 billion during the period, a year-on-year increase of 7.8% and equivalent to 83.4% of the total remittances received in 2024.

Remittance flows have kept strong growth momentum, with the region-based structure remaining largely unchanged. The majority continues to come from Asia and the Americas, accounting for over 80% of the city’s total inflows.

The positive result also demonstrates effects of the policies on foreign exchange and remittances, as well as the local favourable business climate, which have encouraged overseas Vietnamese to remit funds home. These inflows have contributed significantly to economic and social development as money was channelled into investment, business expansion and household consumption.

The steady increase also highlights the effectiveness of the municipal People’s Committee’s policy to capitalise on remittance resources.

In addition, the nearly US$8 billion inflow relects the success of labour market and overseas employment policies. Expanded international partnerships of remittance companies and improved communications by commercial banks and remittance service providers have made transactions more convenient for overseas workers and Vietnamese communities abroad, further boosting inflows.

With these favourable factors in place, remittances to HCM City are expected to sustain positive growth in the remaining months of 2025 and may reach around US$10 billion by the year's end, according to the central bank.

Overseas remittances to Ho Chi Minh City continue to see upturn

VOV.VN - Overseas remittances to Ho Chi Minh City during the first half of the year reached nearly US$5.2 billion, marking an increase of 19.5% on-year, Nguyen Duc Lenh, deputy director of the State Bank of Vietnam (SBV)'s Ho Chi Minh City branch, said on July 18.