Chairman of Ho Chi Minh City, Mr. Phan Van Mai, has just signed an urgent report to the Standing Committee of the City Party Committee and the Standing Committee of the City Party Committee on the Project "Policy to attract and promote remittance resources in Ho Chi Minh City in the period of 2023-2030".
In the Project's submission, in addition to groups of solutions on mechanisms and policies to attract remittances; improve the investment environment... Ho Chi Minh City also has important recommendations to send to the Central Government.
Specifically, the city proposed to supplement the declaration information of "Vietnamese people residing abroad" for investors of Vietnamese origin residing abroad on the National Information System on Business Registration to serve the management and effective exploitation of data related to Vietnamese people residing abroad investing and doing business in the city according to the provisions of law.
In addition, the locality proposed that the Central Government study and develop a legal corridor for foreigners of Vietnamese origin who do not reside in Vietnam to open accounts and choose to deposit in foreign currency or Vietnamese Dong, and to transfer principal and interest in the chosen foreign currency.
"Consider and provide training to create favorable conditions for overseas Vietnamese to invest and do business in Vietnam, such as policies on the Law on Nationality, the Law on Immigration, the Law on Land; policies on inheritance, transfer, purchase, sale, and merger of companies with projects related to overseas Vietnamese," the document stated.
With the above contents, the report of the Chairman of Ho Chi Minh City aims to strengthen State management in the field of remittances, creating effective coordination among State agencies, ministries, branches, localities, commercial banks, financial institutions, remittance companies, in attracting, promoting and using remittances to contribute to creating resources for the city's development.
Previously, according to the report of the Ho Chi Minh City People's Committee at the 10th session of the 10th City People's Council (term 2021-2026), it is estimated that the amount of remittances in the area in the first 6 months of 2023 is 4.4 billion USD, equal to 66% compared to 2022.
From the beginning of 2021 to June 2023, the cumulative amount of remittances in the city reached 18.07 billion USD, an increase of 68.42% compared to the first half of the previous term.
The City People's Committee believes that the positive growth trend of remittances will contribute to stabilizing exchange rates, stabilizing the foreign exchange market and promoting local economic growth.
Tran Chung - Ho Van
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