Overseas remittances to Ho Chi Minh City is expected to total 5.2 billion USD this year, up 4.5 percent year-on-year, said an official of the State Bank of Vietnam (SBV).
Overseas remittances to Ho Chi Minh City is expected to total 5.2 billion USD this year. (Photo: internet)
HCMCity (VNA) – Overseas remittances to Ho Chi Minh City is expectedto total 5.2 billion USD this year, up 4.5 percent year-on-year, said anofficial of the State Bank of Vietnam (SBV).
According to Nguyen Hoang Minh, Deputy Director of the SBV’s branch in HCMCity, the flows of remittances to HCM City have remained stable and increased monthlysince the beginning of this year, reaching 600 million USD in October and 650million USD in November.
In the first 11 months of this year, the figure stood at 4.55 billion USD, with60 percent of the money coming from the US and over 19 percent from Europe, hesaid.
Minh noted that most of the remittances (72 percent) have gone into productionand business activities, in stead of being kept in coffers, spent on dailylives or invested in real estate and property markets as they were in the past.
Remittances have helped stabilise Vietnam dong and ensure the US dollar supply whileenabling the central bank to shore up the foreign reserves and focus oneconomic growth support policies, he said, noting that Vietnam dong has emergedas one of the most stable currencies in Asia so far this year.
Huynh Trung Minh, a financial expert, said that remittance flows this year showsigns of slight decline due to impacts of the US Federal Reserve’s decision to raiseinterest rate in mid-2017 and local banks’ move to slash interest rate on USdollar deposits to zero percent.
In fact, remittances to Vietnam increased continuously since 2010 and hit a recordof 13.2 billion USD in 2015. However, the amount dropped by 33 percent in 2016,he said.-VNA
The increasing amounts of remittances sent back to the homeland by overseas Vietnamese over the past few years have helped the country offset its trade deficit, reduce poverty.
Remittances to HCM City in the first six months of the year were worth 2.1 billion USD, marginally up from the same period last year, according to the State Bank of Vietnam’s HCM City branch.
Overseas remittances to Ho Chi Minh City through official channels in the first eight months of 2017 were estimated at 3 billion USD, up 5 percent year-on-year, sourced mostly from the US and Europe.
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.
Overseas remittances to Ho Chi Minh City is expected to total 5.2 billion USD this year. (Photo: internet) 
