Vietnamese expatriates living abroad will remit roughly 2.5 billion USD to HCM City in 2016’s final quarter, Deputy Director of the State Bank of Vietnam’s HCM City branch Nguyen Hoang Minh estimates.
Remittances to HCM City increase this year. (Source: VNA)
Hanoi (VNA) - Vietnamese expatriates living abroad will remit roughly 2.5 billion USD to HCM City in 2016’s final quarter, Deputy Director of the State Bank of Vietnam’s HCM City branch Nguyen Hoang Minh estimates.
This result would bring the city’s received overseas remittance this year to around 5.7-5.8 billion USD, up from 5.5 billion USD last year.
The overseas Vietnamese sent more money to HCM City in the first nine months of this year, rising 4 percent year-on-year to reach 3.25 billion USD.
Minh attributed the rise of the remittance to a warming domestic real estate market and rising deposit interest rates.
Echoing Minh, Dong A Money Transfer Company Director Tran Van Trung predicts that the remittance to the city will be higher than last year thanks to the rebound of the real estate market.
Financial expert Huynh Trung Minh said that remittance had become an important capital source to offset the country’s trade deficit and support the country’s foreign reserves.
Huynh Trung Minh attributed the rise to the growing number of Vietnamese working and residing abroad.
Besides the streamlined policies and regulations encouraging overseas Vietnamese to invest to their homeland, an ease of remittance management policies - such as simplified remittance transfer service licences issued by the State Bank of Vietnam - also contributed to increasing the remittance to the country, Huynh Trung Minh said.
Remittances to HCM City, which received the largest volume of remittances nationwide, have increased s♏ome 10 to 12 percent on average in the past five years.
Remittances to the city last year reached 5.5 billion USD, exceeding the 5.2 billion USD received in 2014. More than 70.8 percent of the remittance value flowed into production and businesses, while some 21.6 percent went into real estate and 7 percent to relatives.-VNA
Remittances to the country’s business hub, Ho Chi Minh City, in August increased 14 percent from July, mainly from the US and Europe, according to the State Bank of Vietnam (SBV)’s HCM City branch.
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.
Remittances to HCM City increase this year. (Source: VNA)
