Remittances from Ho Chi Minh City account for over 55% of the national total.

In the first quarter of 2023, remittances to Ho Chi Minh City reached US$2.119 billion, an increase of 19.41% compared to the first quarter of 2022.

Remittances are a source of foreign currency, essentially income, accumulated savings, and funds sent by overseas Vietnamese and workers to their relatives. Therefore, the benefits in using, spending, investing, and doing business are significantly different from other sources of foreign capital (loans, investment capital, and grants) in terms of usage costs and conditions. To continue attracting remittances in the future, it is necessary to further improve the investment environment, attract capital, and encourage remittances to be transferred for investment in production and business development, especially in the fields of healthcare, education, culture, technology, and green economy development. Simultaneously, it is crucial to continue improving policies and developing an effective network of remittance services in Ho Chi Minh City.

Source link: https://thanhnien.vn/kieu-hoi-tphcm-chiem-hon-55-ca-nuoc-185230523001447869.htm