Remittances to Ho Chi Minh City hit US$9.6 billion in 2024
VOV.VN - Overseas remittances to Vietnam were estimated to hit roughly US$16 billion last year, with the amount to Ho Chi Minh City reaching about US$9.6 billion in 2024, up US$140 million compared to the previous year.
Nguyen Duc Lenh, deputy director of the State Bank of Vietnam (SBV) Ho Chi Minh City branch, unveiled information at a meeting on January 7 to review banking activities in Ho Chi Minh City in 2024 and deploy tasks for the year ahead.
Lenh, stressed that remittances to Ho Chi Minh City from Asia still account for the highest proportion of up to 53.8% of total remittances, up 24.1% on-year
Meanwhile, remittances from the Oceania, American, and European regions increased by 20%, 4.4%, and 19.1% on-year, respectively.
Trinh Hoai Nam, director of Vietcombank Remittance Company, pointed out that the amount of remittances to Ho Chi Minh City has always grown over the years and accounted for about 55% of total remittances of the entire country over the past three years.
Earlier on September 26, 2024, the Ho Chi Minh City People's Committee approved a project on policies aimed at effectively promoting remittance resources in Ho Chi Minh City until 2030.
The project outlines solutions aimed at attracting remittance resources to directly accelerate socio-economic development in the southern city, while also directing remittance sources into the spheres of the stock market, production, services, and real estate.
The project is anticipated to contribute to further expanding domestic investment, creating jobs, and generating revenue for the state budget from production and business activities.
