Overseas remittances sent to Ho Chi Minh City reached US$2.3 billion this year to early June, down 1.9% year-on-year, said the municipal branch of the State Bank of Vietnam.
Remittances sent to Ho Chi Minh City reached US$1.8 billion in the first four months of this year, down 2% year-on-year, said the State Bank of Vietnam branch in the city.
Vietnamese workers living abroad sent home US$17 billion last year, making Vietnam the world's ninth biggest remittance beneficiary, a World Bank report says.
VOV.VN - Of all the nation’s localities, Ho Chi Minh City attracted the largest amount of remittances last year with US$5.3 billion, representing an increase of 12 per cent compared to 2018’s figure.
Remittances to Vietnam are likely to further increase in 2019 because overseas Vietnamese people believe in the stability of the economy and see better investment opportunities, economist Nguyen Tri Hieu said.
Remittances to HCM City from overseas in the first 11 months of 2019 exceed US$4 billion, and are expected to top $5 billion for the year, according to the State Bank of Vietnam (SBV).
Remittance flows into Ho Chi Minh City in the first nine months of the year were estimated at around 3.8 billion USD, a year-on-year increase of 7 percent.
Ho Chi Minh City received about 3.45 billion USD in remittances sent back home by overseas Vietnamese in the first eight months of 2019, a year-on-year increase of 8 percent, according to the State Bank of Vietnam (SBV)’s HCM City Branch.
Overseas Vietnamese sent home US$3.8 billion through Ho Chi Minh City-based financial institutions during January-October.
Remittances to Vietnam have increased despite the rise in USD price against other currencies and the zero interest rate for foreign currency savings, factors experts said would impact remittance flow.
Remittance inflows to the southern largest economic hub of Ho Chi Minh City in the first six months of 2018 was estimated to reach US$2.45 billion, up nearly 20% from the same period last year, Sai Gon Giai phong reported.
Remittance inflows to the southern largest economic hub of Ho Chi Minh City in the first five months of this year reached US$2 billion, almost double the figure in the first quarter of 2018.
VOV.VN - Foreign remittances are estimated to amount to US$13.8 billion for 2017, the highest growth rate of the past five years and a year-on-year increase of 16%, according to the latest statistics provided by the World Bank.
Overseas remittances will continue adding a vital impetus to the economy, including the property sector in 2018, according to Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association.
Overseas remittances to Ho Chi Minh City is expected to total US$5.2 billion this year, up 4.5% year-on-year, said an official of the State Bank of Vietnam (SBV).
VOV.VN - Foreign remittances to Ho Chi Minh City reached US$3.375 billion in nine months up to October, up 12.5% against August and 6% over the same period last year, according to the State Bank of Vietnam’s HCM City branch.
VOV.VN - More restrictive border and immigration policies adopted by the US Trump administration could negatively impact remittance flows to Vietnam, according to investment banking giant Credit Suisse.
The Business Association of Overseas Vietnamese expects about 130,000 overseas Vietnamese to fly home for the upcoming Lunar New Year, or Tet, the country's most important holiday.
Vietnam’s development potential and resources lay not only in the S-shaped country but also in many other places around the globe, Prime Minister Nguyen Xuan Phuc has said, implying Vietnamese expatriates who attended a conference in Ho Chi Minh City on November 12.
Most of the money were sent by Vietnamese living in Europe and the US.