Remittances to HCM City likely to hits 7 billion USD in 2023
Illustrative photo (Source: VNA)
Remittances to Ho Chi Minh City are expected to reach 7 billion USD in 2023, an annual increase of about 6-7%.
At a May 22 workshop on the city’s remittance attraction and promotion, deputy director of the State Bank of Vietnam (SBV)’s branch in the southern economic hub Nguyen Duc Lenh further said the remittances have increased continuously in the last five years, with the highest amount recorded in 2021, at more than 7.1 billion USD. The figure exceeded 2.1 billion USD in the first quarter this year, up over 19% year-on-year.
Associate Professor Dr. Nguyen Duc Trung, Rector of the HCM City University of Banking, said management agencies should forecast the maximum potential of remittances to the city to come up with specific attraction policies.
It is necessary for the metropolis to promote its advantages in the fields of finance, banking, logistics and tourism so that overseas Vietnamese can see that it is a livable city.
Bui Viet Khoi, Counselor of Science and Technology at the Vietnamese Embassy in Australia, said the country’s expatriate community in Australia boasts huge resources.
Policies suitable for the overseas communities in developed countries, including Australia, are needed to attract remittances, added the diplomat.
At the seminar, participants recommended the city continue capitalising on its leading position as an economic, cultural and educational center of the country, and improving its business climate to attract capital and remittances serving the local production and business development, especially in health, education, culture, technology, and green economy./.
Related News
Ho Chi Minh City: Piloting digital transformation in retail
10:27 | 29/09/2024 Headlines
Examine a series of businesses whose directors have just had their departure postponed
16:09 | 16/09/2024 Anti-Smuggling
HCM City Customs revoke declared value of more than 4,000 declaration after consultation
09:19 | 24/07/2024 Customs
HCM City prevents and handles many prominent groups of counterfeit and smuggled goods
13:10 | 06/06/2024 Anti-Smuggling
Latest News
State President welcomes top legislator of Cuba
19:32 | 02/11/2024 Headlines
Remove "bottlenecks" for economic breakthrough
10:38 | 02/11/2024 Headlines
Int’l organisations, experts remain optimistic about Vietnam's economic outlook
16:30 | 01/11/2024 Headlines
Party chief clarifies major issues on new era of nation
16:20 | 01/11/2024 Headlines
More News
Vietnam, others call on US to immediately end embargo against Cuba
14:15 | 31/10/2024 Headlines
Vietnam's economy is recovering well
16:42 | 29/10/2024 Headlines
“Carbon footprint” reduction needed for sustainable tourism development: insiders
10:55 | 29/10/2024 Headlines
Concerted efforts underway to prevent IUU fishing
14:32 | 28/10/2024 Headlines
Vietnam needs to diversify supply chains for sustainable growth: economists
16:48 | 27/10/2024 Headlines
PM arrives in Abu Dhabi, beginning official visit to UAE
16:46 | 27/10/2024 Headlines
Big rebound forecast for southern industrial property market in 2025
17:55 | 26/10/2024 Headlines
Vietnams tourism likely to boom under "Six Countries, One Destination" visa initiative
17:52 | 26/10/2024 Headlines
Vietnamese Prime Minister to visit UAE, Qatar, Saudi Arabia
17:25 | 26/10/2024 Headlines
Your care
State President welcomes top legislator of Cuba
19:32 | 02/11/2024 Headlines
Remove "bottlenecks" for economic breakthrough
10:38 | 02/11/2024 Headlines
Int’l organisations, experts remain optimistic about Vietnam's economic outlook
16:30 | 01/11/2024 Headlines
Party chief clarifies major issues on new era of nation
16:20 | 01/11/2024 Headlines
Vietnam, others call on US to immediately end embargo against Cuba
14:15 | 31/10/2024 Headlines