The amount of remittances sent to Ho Chi Minh City last year reached 9.6 billion USD, an increase of about 140 million USD compared to the previous year. After the Lunar New Year 2025, the city government immediately started to complete the Project "Policy to effectively promote remittance resources in Ho Chi Minh City from now until 2030", issued by the Ho Chi Minh City People's Committee at the end of September 2024.
Implementing a synchronized policy
This is one of the "backbone" policies to attract a large number of overseas Vietnamese intellectuals and businessmen to return home to contribute. At the beginning of 2025, Ho Chi Minh City initiated the process of building many policies to promote overseas Vietnamese resources and increase remittances. Ms. Vu Thi Huynh Mai - Chairwoman of the Committee for Overseas Vietnamese in Ho Chi Minh City said that not only the city's leaders, but also many overseas intellectuals and businessmen are currently paying special attention to this project.
According to preliminary statistics, Ho Chi Minh City alone has about 3 million overseas Vietnamese (the whole country has 6 million overseas Vietnamese) living and working abroad. Therefore, Ho Chi Minh City considers this a very important resource. The city has implemented a series of policies such as: Not imposing income tax on foreign currency transferred from overseas Vietnamese; having policies allowing recipients to keep foreign currency or deposit foreign currency at credit institutions...
Mr. Nguyen Duc Lenh - Deputy Director of the State Bank - Ho Chi Minh City Branch said that last year, data from remittance companies recorded that the amount of remittances sent home in the first 9 months of the year exceeded 77%, equivalent to an increase of 10.4% over the same period last year. This growth has shown that Ho Chi Minh City's remittance attraction policy is on the right track. The State Bank will continue to improve remittance payment solutions, especially service quality and communication work to create conditions for overseas Vietnamese relatives to receive remittances quickly and conveniently.
In the long term, Ms. Vu Thi Huynh Mai said that the project "Policy to effectively promote remittance resources in Ho Chi Minh City from now until 2030" is expected to create a major breakthrough. However, to achieve the expected results, effective coordination is needed among state agencies in the area; ministries, localities, commercial banks, financial institutions, remittance companies and overseas Vietnamese communities in other countries.
Promoting special mechanisms and policies
In order to soon attract overseas Vietnamese resources to contribute to Ho Chi Minh City, Dr. Le Vo Phuong Nga - Member of the Global Vietnamese Scientists and Experts Organization, hopes that in the coming time, overseas intellectuals, scientists and experts will contribute more to the development of Ho Chi Minh City and Vietnam in 3 aspects, including: Overseas Vietnamese working directly for domestic projects; Connecting resources or coordinating consulting and training domestic human resources. However, the Ho Chi Minh City government needs to clearly identify priority areas that need to attract the participation of overseas Vietnamese.
Dr. Phuong Nga suggested that the HCMC People's Committee should soon build a map of businesses in each field that are likely to be selected to participate and lead the rest. In the immediate future, it is necessary to take advantage of the mechanisms and policies of Resolution 98 as a premise for the above proposals. In particular, establish and maintain a Science and Technology Advisory Group, including domestic and foreign experts.
Meanwhile, Prof. Dr. Dang Luong Mo suggested that the process of mobilizing, promoting, utilizing, connecting, and combining the potential resources of overseas Vietnamese should not only focus on professors, doctors, businessmen, and investors; but Ho Chi Minh City should also focus on all resources that they can practically contribute to the cause of national development. The proposed solution is that the city should build an Overseas Vietnamese Talent Bank. "It is time for the state to directly and actively participate in mobilizing, attracting, and utilizing overseas Vietnamese talents. In particular, it is necessary to gather all overseas Vietnamese talents, all those who can make specific contributions, long-term as well as short-term" - Prof. Dang Luong Mo suggested.
According to Ms. Tran Tue Tri - an overseas Vietnamese in Singapore, co-founder of Vietnam Brand Purpose, Resolution 98 and the Project "Policy to effectively promote remittance resources in Ho Chi Minh City from now until 2030" will open up great opportunities for Ho Chi Minh City to take advantage of the large amount of money sent back by the overseas Vietnamese community in 2025 and the following years. In addition to proactively building and developing a legal corridor to ensure overseas Vietnamese participate in investment and business; Ho Chi Minh City needs to support development projects in parallel. Information and communication work must be an important factor in the attraction policy.
Source: https://daidoanket.vn/phat-huy-nguon-luc-kieu-hoi-10299743.html
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