Overseas Vietnamese attend the Conference on Deploying the Project "Policy to effectively promote remittance resources in Ho Chi Minh City from now to 2030"
On October 11, the Committee for Overseas Vietnamese in Ho Chi Minh City - the focal point for developing remittances - held a conference to implement the Project "Policy to effectively promote remittance resources in Ho Chi Minh City from now until 2030".
At the conference, state management units, enterprises, overseas intellectuals, and representatives of diplomatic agencies abroad contributed their opinions on policies and mechanisms, solutions to orient remittance resources for socio-economic development, shifting to the stock market, bonds, production - business, services and real estate. Thereby, contributing directly to expanding domestic investment, creating jobs and revenue for the budget.
To achieve this goal, Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV) Ho Chi Minh City Branch, said that the city's banking sector focuses on improving the quality of remittance payment services. It is necessary to do a good job of communication and consulting so that remittance beneficiaries have many choices such as: spending for living purposes; putting into production and business; saving or investing in bonds...
Meanwhile, Mr. Trinh Hoai Nam, Director of Vietcombank Remittance Company (VCBR), proposed to expand the policy to attract more remittance resources. Accordingly, the State needs to open more channels to transfer USD from an organization abroad to people in Vietnam. For example, an American company can transfer money to individuals in Vietnam who are working for that company. This amount of foreign currency is not small because the number of people in Vietnam receiving salaries from abroad is quite large and will increase in the near future.
Representatives of the Vietnamese embassies in Japan, South Korea, and Australia said that the number of overseas Vietnamese wishing to contribute to the country is increasing. From this reality, the Ho Chi Minh City government can actively coordinate to fully and promptly inform the benefits of the policy to attract remittances to overseas Vietnamese. Notably, Ho Chi Minh City needs to widely disseminate incentive measures so that people can see that the highest benefit from remittances is in the form of investment and business rather than saving and using for personal purposes.
In particular, Dr. Le Thi Thanh Nhan, Lecturer at the Australian National University, proposed the main solutions to promote remittance resources: Ho Chi Minh City needs to encourage overseas Vietnamese to invest in business, build social investment programs, connect overseas Vietnamese with domestic business opportunities...
Accordingly, Ho Chi Minh City can issue bonds with a term of 5-10 years specifically for each specific project, linked to the unit directly mobilizing capital and repaying debt. The preferential policy is that in the first year, it can exempt or give tax incentives to attract overseas Vietnamese to invest from afar. Combine with banks to provide interest rates for remittances kept in accounts for 1-6 months, to promote the use of remittances in production activities.
At the same time, Ho Chi Minh City needs to expand investment rights so that overseas Vietnamese can participate more in economic development as India has applied: Allowing overseas Vietnamese to enjoy benefits almost like domestic citizens, including real estate investment and business projects; reducing land taxes during the investment period, especially projects serving the community's interests or developing smart cities...
Source: https://nld.com.vn/tp-hcm-lam-gi-de-phat-trien-kieu-hoi-196241011130302623.htm
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