Remittances sent to Ho Chi Minh City hit US$1.45 billion in first quarter

Overseas remittances sent to Ho Chi Minh City reached US$1.45 billion in the first three months of 2021, up 10% over the same period last year, according to the Ho Chi Minh City Committee for Overseas Vietnamese Affairs.

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The remittances not only help local people have more capital for business and production activities, but also provide a stable foreign currency income for the city.

Ho Chi Minh City currently has nearly two million peopleliving and working abroad.

The city received a record US$6.1 billion in remittancesin 2020, up 15% over the same period in 2019. Total remittances sent to Vietnam hit approximately US$15.7billion in 2020, placingVietnam in the list of the top ten countries receiving the highest level of remittances in the world.

Over the past five years, total remittances sent to Vietnam reached US$71 billion, an average growth of 6% per year.

The number of Vietnamese working aboard has increased every year with an average increase of 10,000 people per year during the past five years.

Vietnam aims to send 90,000 workers abroad in 2021 and approximately 500,000 workers abroad in the 2021-2025 period.