Africa has the highest increase in remittances to Ho Chi Minh City - Photo: QUANG DINH
Surprised by the growth of remittances from the African market
Total remittances to Ho Chi Minh City in the first 6 months of 2025 reached 5.23 billion USD, a slight increase over the same period last year.
According to statistics from the State Bank of Vietnam, Region 2, the amount of remittances transferred to Ho Chi Minh City through credit institutions and economic organizations increased sharply in the second quarter of 2025, reaching nearly 2.82 billion USD, an increase of 16.9% over the previous quarter.
In the first quarter, the amount of remittances sent to Ho Chi Minh City through credit institutions and economic organizations was 2.41 billion USD. Compared to the same period last year, remittances sent to Ho Chi Minh City also increased by 22.1%.
Ms. Tran Thi Ngoc Lien - Deputy Director of the State Bank of Vietnam, Region 2 Branch - said that in terms of market, Africa has the highest increase in remittances to Ho Chi Minh City (130.8%), Europe has a growth rate of 16%, America has an increase of 11.9%, Oceania has an increase of 8.9%...
However, Asia continues to be the market with the largest proportion and dominates the remaining markets. The reason may be due to the strong increase from markets such as Japan, Korea, Taiwan - where many Vietnamese workers work.
"The steady increase in remittances over the years has created conditions for the city's economic development, stimulated consumption and investment, and increased foreign currency supply...", Ms. Tran Thi Ngoc Lien added.
Remittances continue to grow
In addition, through information exploitation of the State Bank, it was found that other provinces, including: Ba Ria - Vung Tau , Binh Duong, Dong Nai, Binh Phuoc (before the merger) had the amount of remittances transferred through credit institutions as of June 30, 2025 reaching over 127.5 million USD.
These places do not have any economic organizations directly operating to receive and pay foreign currency. Accordingly, remittances transferred through credit institutions in Ba Ria - Vung Tau province reached more than 27.2 million USD, Binh Duong reached more than 53.2 million USD, Dong Nai reached more than 42.3 million USD, Binh Phuoc reached more than 4.6 million USD.
In 2024, remittances to Ho Chi Minh City will reach 9.547 billion USD, an increase of 0.9% compared to 2023. Of which, Asia and America are the two regions with the highest proportion of remittances, accounting for 82.2% of the total remittances in 2024.
It is known that the remittance development project of the Ho Chi Minh City People's Committee aims for the total amount of remittances transferred to the area to reach double digits, that is, at least 10 billion USD per year.
Ho Chi Minh City is researching and proposing many solutions to realize the goal of transferring remittances from savings and consumption into investment through urban bond channels...
Source: https://tuoitre.vn/hon-5-2-ti-usd-kieu-hoi-chuyen-ve-tp-hcm-trong-nua-dau-nam-2025-20250717113958105.htm
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