HCMC receives $2.9b in remittance in 8 months
Remittances to HCM City in the first eight months of this year reached US$2.9 billion. |
Remittances to HCM City in the first eight months of this year rose nearly 6 per cent year-on-year to reach US$2.9 billion.
State Bank of Việt Nam’s HCM City branch Deputy Director Nguyễn Hoàng Minh said remittances rose 14 per cent compared with last month, adding that the money was mainly received from the United States and the European Union.
Minh said the remittances were mainly used for production and businesses.
With the rising rate, Minh expected the city would receive $5.7 billion-$5.8 billion in remittances this year, up 5.6 per cent against last year.
Remittances to HCM City, among the localities receiving the largest volume of remittances nationwide, have increased some 10 to 12 per cent on average in the past five years.
Remittances to the city last year reached $5.5 billion, exceeding the $5.2 billion received in 2014. More than 70.8 per cent of the remittance value flowed into production and businesses, while some 21.6 per cent went into real estate and seven per cent went to relatives.
Related News
Ho Chi Minh City Customs proactively applies IT in customs supervision
18:09 | 21/04/2024 Customs
Ho Chi Minh City Customs: Effectively monitor goods in transit with e-seals
10:17 | 25/03/2024 Anti-Smuggling
Many businesses enforced for large tax debts
14:39 | 12/02/2024 Anti-Smuggling
Ho Chi Minh City: Expectation of digital transformation from Golden brand enterprises
14:40 | 02/02/2024 Import-Export
Latest News
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
More News
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Find ways to a corporation for businesses in industrial parks
10:38 | 22/04/2024 Import-Export
Export turnover of two agricultural product groups grows three-digit
18:10 | 21/04/2024 Import-Export
Early warnings reduce risks in trade defense
18:09 | 21/04/2024 Import-Export
Your care
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export