Remittances to HCM City likely to hits 7 billion USD in 2023

Remittances to Ho Chi Minh City are expected to reach 7 billion USD in 2023, an annual increase of about 6-7%.

Remittances to HCM City likely to hits 7 billion USD in 2023 hinh anh 1

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./.

en.vietnamplus.vn

Related News

Ho Chi Minh City: Piloting digital transformation in retail

Ho Chi Minh City: Piloting digital transformation in retail

VCN - Selected to pilot the Program supporting retail stores in their digital transformation journey, Ho Chi Minh City is implementing comprehensive solutions to assist businesses and citizens in embracing digitalization.
Examine a series of businesses whose directors have just had their departure postponed

Examine a series of businesses whose directors have just had their departure postponed

VCN - Due to tax arrears, 6 business directors have just been notified by the Customs to temporarily suspend their departure from the country. Why do these businesses owe taxes?
HCM City Customs revoke declared value of more than 4,000 declaration after consultation

HCM City Customs revoke declared value of more than 4,000 declaration after consultation

VCN - Through price consultation operations for import and export goods, Ho Chi Minh City Customs Department has rejected the declared value of over 4,000 customs declarations.
HCM City prevents and handles many prominent groups of counterfeit and smuggled goods

HCM City prevents and handles many prominent groups of counterfeit and smuggled goods

VCN - Competent forces in HCM City have focused on controlling and handling many outstanding groups of contraband and counterfeit goods on the market under the direction of the Prime Minister.

Latest News

State President welcomes top legislator of Cuba

State President welcomes top legislator of Cuba

State President Luong Cuong met with Politburo member, President of the National Assembly of People’s Power, and President of the Council of State of Cuba Esteban Lazo Hernandez in Hanoi on November 2.
Remove "bottlenecks" for economic breakthrough

Remove "bottlenecks" for economic breakthrough

VCN - In recent articles and speeches, General Secretary and President To Lam has repeatedly mentioned that the country is facing a new era of national growth. General Secretary and President To Lam also requested that the “bottlenecks” of the economy must be quickly removed, creating innovation and breakthroughs to complete the set tasks.
Int’l organisations, experts remain optimistic about Vietnam's economic outlook

Int’l organisations, experts remain optimistic about Vietnam's economic outlook

International organisations and experts have made positive comments on the Vietnamese economy, affirming their optimism about Vietnam's economic outlook.
Party chief clarifies major issues on new era of nation

Party chief clarifies major issues on new era of nation

Prof. Dr. To Lam, General Secretary of the Communist Party of Vietnam (CPV)’s Central Committee on October 31 had a discussion with participants of a training course for officials planned for the 14th Party Central Committee, focusing on a number of issues on a new era – the era of the nation’s rise.

More News

Vietnam, others call on US to immediately end embargo against Cuba

Vietnam, others call on US to immediately end embargo against Cuba

Vietnam calls on the US to immediately end its embargo against and remove Cuba from the list of state sponsors of terrorism, moving towards normalising relations between the two countries based on equality, mutual respect, and respect for each other's national sovereignty and political independence, stated Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.
Vietnam

Vietnam's economy is recovering well

VCN - According to Dr. Nguyen Quoc Viet, Deputy Director of the Vietnam Institute for Economic and Policy Research (VEPR), by the end of the third quarter of this year, Vietnam's economy had recovered relatively well amid optimism about the overall growth of the world economy in late 2024 and 2025.
“Carbon footprint” reduction needed for sustainable tourism development: insiders

“Carbon footprint” reduction needed for sustainable tourism development: insiders

Vietnam's tourism industry is making efforts to reduce its “carbon footprint” in pursuit of sustainability, focusing on developing “green tours”, upgrading transport infrastructure, and developing renewable energy-used vehicles, said insiders.
Concerted efforts underway to prevent IUU fishing

Concerted efforts underway to prevent IUU fishing

Vietnam is making thorough preparations to welcome the European Commission (EC)'s inspection delegation with the hope of having its “yellow card” on illegal, unreported and unregulated (IUU) fishing against the fisheries sector removed, thus boosting seafood exports to the EU market.
Vietnam needs to diversify supply chains for sustainable growth: economists

Vietnam needs to diversify supply chains for sustainable growth: economists

The diversification of global supply chains is creating significant opportunities for Vietnam to engage more deeply in international production networks. However, along with market expansion prospects, there are challenges posed by trade tensions, the reality of climate change accompanied by natural disasters, and the requirements for carbon emissions reduction, according to experts.
PM arrives in Abu Dhabi, beginning official visit to UAE

PM arrives in Abu Dhabi, beginning official visit to UAE

Prime Minister Pham Minh Chinh, his spouse and a high-ranking delegation of Vietnam arrived at Zayed International Airport in Abu Dhabi at 11 am on October 27 (local time), starting their official visit to the United Arab Emirates (UAE) at the invitation of President Mohamed bin Zayed Al Nahyan.
Big rebound forecast for southern industrial property market in 2025

Big rebound forecast for southern industrial property market in 2025

Despite a challenging 2024 marked by global economic uncertainties and regulatory changes, the industrial property market in the south is poised for a robust recovery in 2025, according to property consultancy Knight Frank.
Vietnams tourism likely to boom under "Six Countries, One Destination" visa initiative

Vietnams tourism likely to boom under "Six Countries, One Destination" visa initiative

A shared visa zone for the Southeast Asia region, similar to Europe’s Schengen visa mechanism, could be a game-changer Vietnam’s tourism sector needs. The proposed “Six Countries, One Destination” initiative aims to facilitate seamless travel across six neighboring countries, thus boosting regional tourism.
Vietnamese Prime Minister to visit UAE, Qatar, Saudi Arabia

Vietnamese Prime Minister to visit UAE, Qatar, Saudi Arabia

Prime Minister Pham Minh Chinh, his spouse, and a high-ranking delegation of Vietnam will pay official visits to the United Arab Emirates (UAE) and Qatar, attend the 8th Edition of the Future Investment Initiative (FII) and make a working trip to Saudi Arabia, from October 27 to November 2.
Read More

Your care

Latest Most read
State President welcomes top legislator of Cuba

State President welcomes top legislator of Cuba

State President Luong Cuong met with Politburo member, President of the National Assembly of People’s Power, and President of the Council of State of Cuba Esteban Lazo Hernandez in Hanoi on November 2.
Remove "bottlenecks" for economic breakthrough

Remove "bottlenecks" for economic breakthrough

General Secretary and President To Lam requested that the “bottlenecks” of the economy must be quickly removed, creating innovation and breakthroughs to complete the set tasks.
Int’l organisations, experts remain optimistic about Vietnam's economic outlook

Int’l organisations, experts remain optimistic about Vietnam's economic outlook

International organisations and experts have made positive comments on the Vietnamese economy, affirming their optimism about Vietnam's economic outlook.
Party chief clarifies major issues on new era of nation

Party chief clarifies major issues on new era of nation

Prof. Dr. To Lam, General Secretary of the Communist Party of Vietnam (CPV)’s Central Committee on October 31 had a discussion with participants of a training course for officials planned for the 14th Party Central Committee, focusing on a number of issues on a new era – the era of the nation’s rise.
Vietnam, others call on US to immediately end embargo against Cuba

Vietnam, others call on US to immediately end embargo against Cuba

Vietnam calls on the US to immediately end its embargo against and remove Cuba from the list of state sponsors of terrorism, moving towards normalising relations between the two countries based on equality, mutual respect, and respect for each other's national sovereignty and political independence, stated Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.
Mobile Version