Remittances to HCM City surpasses 9.5 billion USD in 2024
Remittances to Ho Chi Minh City in 2024 reached over 9.5 billion USD, up 0.9% year-on-year, the State Bank of Vietnam (SBV)'s branch in the city announced on January 16.
Remittances to Ho Chi Minh City in 2024 top 9.5 billion USD, up 0.9% year-on-year, according to the State Bank of Vietnam's branch in the city (Photo: VNA)
HCM City (VNA)༒ - Remittances to Ho Chi Minh City in 2024 reached over 9.5 billion USD, up 0.9% year-on-year, the State Bank of Vietnam (SBV)'s branch in the city announced on January 16.
Statistics showed that remittances from Asia and America accounted for the highest proportion, with 82.2%.
Compared to 2023, the flow of money from Asia rose by 2.5%, from America by 7.4%, and from Oceania by 8.7%. On the other hand, remittances from Europe and Africa decreased by 23% and 33%, respectively.
Nguyen Duc Lenh, Deputy Director of the SBV’s HCM City Branch, said that the remittance flow to the city, although its growth rate has not been as high as in the past two years, continued to exceed the 9 billion USD mark.
Along with other foreign currency sources, it has contributed to boosting the city’s socio-economic development, as a stable foreign currency supply that bolsters foreign exchange monetary policy, with the goal of stabilising the macro-economy and promoting economic growth./.
Remittances sent by overseas Vietnamese to Ho Chi Minh City are expected to surge about 10% in 2024 from a record high of 9.46 billion USD in 2023, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV)’s Ho Chi Minh City Branch.
Ho Chi Minh City plans to create funds for overseas Vietnamese seeking to invest in real estate and small and medium-sized enterprises, and buy bonds for funding infrastructure.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
