Overseas remittances to HCM City on the rise
Overseas remittances to HCM City were estimated to reach $3.45 billion in the first eight months of this year, according to the State Bank of Vietnam’s HCM City branch.
Overseas remittances to HCM City were estimated to reach USD3.45 billion in the first eight months of this year
This represented a rise of more than 8% over the same period last year.
Nguyen Hoang Minh, deputy head of the branch, said that the majority of the remittances came from the US, Australia, Canada, France and South Korea.
The city received the overseas remittances of USD5 billion in 2018, up 4.5% on-year.
Last year, Vietnam got a sum of nearly USD16 billion in remittances, one hundred times higher than in 1993.
According to the World Bank, Vietnam is one of the top ten remittance receivers.
Remittances to Vietnam came from more than 4.5 million overseas Vietnamese together with a large number of workers working abroad.