The information was shared by Nguyen Duc Lenh, Deputy Director of the Ho Chi Minh City branch of the State Bank of Vietnam, at a conference on May 22 to discuss measures to attract and promote remittances to the city.
According to Lenh, remittances to Ho Chi Minh City during the 2012-2021 period rose from 4.1 billion USD to 6.6 billion USD, while the respective national figures were 10 billion USD and 18.1 billion USD.
In the first quarter of 2023, remittances to Vietnam’s southern economic hub reached nearly 2.2 billion USD, up 19.41% from the same period last year.
Within the conference, leaders of the city’s departments, representatives of Vietnam’s diplomatic missions and communities abroad as well as financial experts shared their views on how to attract and use remittances effectively.
In a virtual speech, Bui The Khoi, science and technology counsellor at the Vietnamese Embassy in Australia, said that the country currently has 350,000 people of Vietnamese origin, most of whom have relatively high incomes.
He said it is important to develop an appropriate policy to attract remittances, adding that they wish to invest effectively in business and production activities as well as to be facilitated in buying homes in Vietnam.
