The information was given by Vice Director of the State Bank of Vietnam’s Branch in HCM City Nguyen Hoang Minh at a meeting with enterprises on Wednesday.
HCM City’s overseas remittances have been estimated at around USD5.1 billion in the first nine months of 2021
According to Minh, this was impressive growth given the context of the Covid-19 pandemic.
He forecasted that the city’s overseas remittances this year would reach USD6.1 billion, 10-12% higher than last year’s figure, with the majority from markets such as the US, Australia, Canada and Europe.
There are currently some 2 million residents in HCM City living overseas.
Over recent years, remittances have come not only in the form of savings but also in securities, real estate, share purchases, or new business.
