Hanoi (VNA) – Remittances to Ho Chi Minh City hit 2 billion USD duringJanuary-April, up 11 percent against the same period last year.
The total amount this year is expected to be not lower thanthat of last year, 6.1 billion USD.
The remittances were mainly channeled to production andbusiness, said Nguyen Hoang Minh, deputy director of the State Bank of Vietnam– HCM City branch.
The resource is not only provided funding for localproduction and business but also added to the city’s foreign reserves.
There are currently some 2 million residents in HCM Cityliving overseas. They sent home 6.1 billion USD last year, up 15 percentyear-on-year.
Meanwhile, Vietnamese abroad sent home a totalof 17.2 billion USD worth of remittances, making the country the third-largestremittance recipient in the East Asia and Pacific region, according to theMigration and Development Brief released earlier this week by the World Bankand the Global Knowledge Partnership on Migration and Development./.
Overseas remittances to Ho Chi Minh City rose 10 percent year-on-year to 1.45 billion USD in the first quarter of 2021, according to the municipal Committee for Overseas Vietnamese Affairs.
Ho Chi Minh City received 1.45 billion USD of overseas remittances in the first three months of this year, up 10 percent over the same period last year, reported the city Committee for Overseas Vietnamese Affairs.
Ho Chi Minh City will hold a ceremony on April 20 to honour 33 outstanding collectives and 17 individuals of the Vietnamese community abroad, according to the city’s Committee for Overseas Vietnamese.
Vietnamese abroad sent home 17.2 billion USD worth of remittances in 2020, making Vietnam the third-largest remittance recipient in the East Asia and Pacific region.
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Illustrative image (Photo: VNA) 
