Vietnam among world’s 10 biggest recipients of remittances
Vietnam remains one of the 10 countries receiving the most remittances in the world, according to the recent Migration and Development Brief by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD).
Remittance flows into Vietnam approximated 19 billion USD in 2022. (Photo: VNA)
Hanoi (VNA) – Vietnam remains one of the 10countries receiving the most remittances in the world, according to the recentMigration and Development Brief by the World Bank and the GlobalKnowledge Partnership on Migration and Development (KNOMAD).
Despite the COVID-19 pandemic’s major impacts on the globaleconomy over the last two years and growing inflation in many countries,remittance flows into Vietnam remained relatively stable compared to previousyears, the report noted.
Total remittances to Vietnam increased by nearly 5% in 2022and may go up 3.6 - 4.5% in the following years after growing 5% in 2021, according to statistics of WB and KNOMAD.
Last year, the value rose about 1 billion USD to approximate19 billion USD, making the country one of the three biggest recipients in theAsia-Pacific and among the top 10 globally in terms of remittances.
Some banksperceived that the growing remittance inflows will help them not only gain moreprofits from services but also boost foreign exchange reserves, serving Vietnam’sforeign currency attraction policy.
Among remittance sources, the US houses the largest number ofVietnamese immigrants, followed by the UK, Australia, and Canada. Meanwhile,Japan, the Republic of Korea, and Taiwan (China) post the most number ofworkers from Vietnam./.
Amid the US Federal Reserve (FED)’s continuous increases of interest rates to cope with inflation, the most important task for Vietnam now is to keep macro-economic stability, with monetary stability being the core, some economic experts have said.
Most banks reported strong profit growth from the foreign exchange business in the first three quarters of this year thanks to the sharp appreciation of the US dollar, Q3 2022 financial statements showed.
Ho Chi Minh City received some 6.8 billion USD in remittances last year, only a slight decrease compared to 2021 and accounting for 48% of foreign currency deposits at its credit institutions.
VNDirect Securities Corporation expects Vietnamese foreign exchange reserves to recover to 3.3 months of imports and reach 102 billion USD by the end of this year from the current level of 89 billion USD last year, said in its updated macro report.
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.
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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.
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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.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Remittance flows into Vietnam approximated 19 billion USD in 2022. (Photo: VNA) 
