(VOVWORLD) -Overseas remittances to Ho Chi Minh City surpassed 5.5 billion USD in the first nine months of 2024, a 10% rise from last year, excluding transfers through credit institutions.
 A conference on promoting remittance resources until 2030 takes place in Ho Chi Minh city on October 11, 2024 |
Last year, remittances were 2.7 times higher than total foreign direct investment (FDI) and made up about 14% of the city's gross regional domestic product (GRDP). Ho Chi Minh City is now the locality recording the largest amount of remittances, which account for more than half of the country.
At a conference on promoting remittance resources until 2030, Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's Ho Chi Minh City Branch, emphasized the importance of adopting foreign exchange policies, attracting remittances, improving the investment environment, and enhancing the quality of remittance payment services.
He requested that resources be used effectively to develop production, business, and trade services through financial tools like local government bonds, investment funds, or securitization. This approach aligns with the goal of developing a green economy, a digital economy, high-quality education and healthcare, technology applications, tourism service and others activities that concern overseas Vietnamese investors.