Remittances to Ho Chi Minh City reach over 9.5 billion USD

According to Mr. Lenh, the amount of remittances sent to Ho Chi Minh City in 2023 will reach 9.5 billion USD, an increase of 43.3% compared to 2022. This is the highest growth rate in the past 5 years and continues to maintain a high proportion compared to the total amount of remittances in the country at over 50%. Comparing the scale of remittances with the total foreign direct investment in Ho Chi Minh City in 2023, the amount of remittances is 2.7 times higher and equal to about 14% of the city's GRDP.

Remittances to Ho Chi Minh City in 2023 increased by nearly 30%

Remittances to the city in 2023 are associated with the trend of increasing labor and work abroad. Accordingly, the amount of remittances from Asia accounts for the highest proportion, accounting for 50.5% and growing by 143.8% compared to the end of 2022. Meanwhile, the amount of remittances from Africa and the Americas both decreased. In particular, remittances from the Americas account for a high proportion, after Asia (accounting for 29.1%), but the value of remittances decreased by 10.2%. The opening and development of the labor, service and tourism markets after the pandemic in Asian countries, along with a stable economic and political environment, are factors that positively affect remittances from this region in 2023 and in the coming time.

190 billion USD in remittances to Vietnam in 30 years

In addition, according to Mr. Lenh, the stable macro- economy and favorable investment and business environment, along with the Government's and the State Bank's policies on attracting remittances; cultural, tourism and sports activities; connection and information activities on the country's achievements and development... have become the fundamental factors and driving forces to promote the growth of remittance resources in recent times. In addition, the network system and remittance payment services of commercial banks and enterprises directly paying remittances are developed, convenient, fast, efficient and safe, also contributing significantly to attracting remittances to the country in general and to the city in particular in 2023.

Source link: https://thanhnien.vn/kieu-hoi-ve-tphcm-dat-hon-95-ti-usd-185240123161600636.htm