According to the State Bank of Vietnam, in the first 6 months of 2024, the amount of remittances sent to Ho Chi Minh City reached nearly 5.2 billion USD. Compared to the same period, the amount of remittances sent to the city increased by 19.5%, showing the positive resources from overseas Vietnamese for domestic economic development.
In the second quarter of 2024 alone, remittances reached 2.3 billion USD, up 4.2% over the same period. However, compared to the previous quarter, remittances decreased by about 19.5%.
Remittances to Ho Chi Minh City increased by 19.5% in the first 6 months of the year, reaching nearly 5.2 billion USD (Photo TL)
The reason for the increase in remittances sent to Ho Chi Minh City in the first half of the year is believed to be due to positive factors from the international labor market. The stability of the political environment in the Asian region has helped improve employment and income of overseas Vietnamese. This has boosted the growth of remittances in the first months of 2024.
In addition, remittance services of banks and companies are also being improved, helping overseas Vietnamese to send money back home more easily and quickly.
MB Securities (MBS) commented that the revised Housing Law and Real Estate Business Law, which are about to take effect, will have a more positive impact on remittances to Vietnam in the coming time.
The reason comes from allowing Vietnamese citizens living abroad to own real estate. This will help resolve complaints that occur in cases where overseas Vietnamese have to ask relatives or acquaintances to own property for them. From there, it will create new demand for the domestic real estate market.
Source: https://www.congluan.vn/kieu-hoi-do-ve-tphcm-dat-gan-52-ty-usd-tang-195-post303947.html
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