Remittances to Ho Chi Minh City reach nearly 5.2 billion USD

According to the State Bank - Ho Chi Minh City branch, remittances to Ho Chi Minh City in the first 6 months of the year reached nearly 5.2 billion USD, equal to 54.7% compared to the whole year of 2023 and increased by 19.5% over the same period.

Specifically, the amount of remittances   Remittances to Ho Chi Minh City in the second quarter decreased by 19.5% compared to the end of the first quarter, reaching 2.309 billion USD but increased by 4.2% compared to the second quarter of 2023. In the first 6 months of the year, remittances to Ho Chi Minh City reached nearly 5.2 billion USD, equal to 54.7% compared to the whole year of 2023 and increased by 19.5% over the same period. Remittances from the Asian region still accounted for the highest proportion, accounting for 56.1% and increased by 48.5% over the same period. Human resources and labor market factors continued to have a positive impact on the amount of remittances from this region in the first 6 months of 2024.

Remittances to Ho Chi Minh City reached 5.2 billion USD. NGOC THANG

In addition to objective factors affecting the amount of remittances such as political economy, society, employment and income, the effective use of remittance resources and solutions to attract remittances also play a very important role. Orienting and focusing remittance resources to develop production, business, trade and services through financial instruments (local government bonds, investment funds or securitization, etc.). To bring about greater efficiency, there needs to be solutions of strategic significance, in line with the city's economic development orientation: green economy, digital economy; developing high-quality education and healthcare, applying modern technology, linking tourism and service activities and areas of interest to overseas Vietnamese; in line with the needs of overseas workers to improve their lives and develop production and business. In particular, the microfinance model for the agricultural, rural and farmer sectors thanks to remittances has been and is proving effective. Source: https://thanhnien.vn/kieu-hoi-ve-tphcm-dat-gan-52-ti-usd-185240718085916172.htm