HCM City receives 6.8 billion USD of remittances so far
The amount of remittances flowing to Ho Chi Minh City has continued to increase despite complicated geopolitical changes in the world, reaching about 6.8 billion USD so far, according to Nguyen Duc Lenh, Vice Director of the Ho Chi Minh branch of the State Bank of Vietnam (SBV).
HCM City (VNA) – The amount of remittancesflowing to Ho Chi Minh City has continued to increase despite complicated geopoliticalchanges in the world, reaching about 6.8 billion USD so far, according toNguyen Duc Lenh, Vice Director of the Ho Chi Minh branch of the State Bank ofVietnam (SBV).
Lenh commented that although the amount is lower than thatof last year, it is still a good result.
The figure is expected to surge in the rest of the year andon the thresholds of the Lunar New Year (Tet) festival, he held, adding thatthis is an important resource supporting the socio-economic development of thecity and the stability of the foreign currency supply in the city andthe country.
He noted that over the years, HCM City has been a leading localityin remittance inflows, with about 6.5-6.6 billion USD in 2021, up 9% year onyear despite the COVID-19 pandemic. In the year, the whole country received about12.5 billion USD.
To prepare for the peak season of receiving remittances at year-end, many local banks have launched various promotion programmes toattract more money./.
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Remittances to Ho Chi Minh City in the first quarter of this year reached nearly 1.8 billion USD, according to the State Bank of Vietnam’s branch in the city.
Remittances to Ho Chi Minh City totalled 3.16 billion USD in the first half of 2022, down 13% from the same period last year, according to the State Bank of Vietnam (SBV) branch in the southern city.
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Illustrative image (Source: VNA) 
