VOV.VN - The flow of overseas remittances to Ho Chi Minh City stood at an estimated US$4.78 billion during the opening nine months of the year, equal to 68% of the amount recorded in 2021, the State Bank of Vietnam’s branch in the southern city has reported.

A networking event that links overseas Vietnamese businesspeople and their peers in Vietnam took place virtually on October 12 as part of activities marking Vietnam Entrepreneurs Day (October 13).

Remittances to Ho Chi Minh City totalled US$3.16 billion 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 US$1.8 billion, according to the State Bank of Vietnam’s branch in the city.

VOV.VN - Vietnamese foreign exchange reserves have increased considerably over recent years and are expected to remain on an upward trajectory moving forward despite unfavourable factors, according to international financiers the World Bank (WB) and the International Monetary Fund (IMF).

VOV.VN - Despite the negative impact of the COVID-19 pandemic, the remittance flow to the country throughout 2021 reached more than US$12 billion, an increase of 10% compared to 2020, according to data published by the State Bank of Vietnam (SBV).

Remittances to Ho Chi Minh City reached around US$6.6 billion in 2021, up 9% 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.

VOV.VN - Vietnamese nationals abroad have sent home some US$12.5 billion this year, a year-on-year increase of 10%, according to the State Bank of Vietnam (SBV).

The World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD) forecast that remittance to Vietnam is estimated at US$18.1 billion in 2021.