According to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam’s Region 2 Branch, remittance companies accounted for the lion’s share of Ho Chi Minh City’s remittances, totaling nearly 1.76 billion USD, while commercial banks received 655 million USD.
Asia continued to be the largest source of remittances to the city, contributing 48.7%, a notable increase of 46.1% from the previous quarter.
 |
| Illustrative image (Source: VNA) |
Lenh attributed the positive remittance situation in Ho Chi Minh City to various factors, including effective monetary and foreign exchange policy mechanisms, a stable investment and business environment, and a thriving labor market.
He also commended the high-quality services provided by remittance companies and commercial banks, which greatly convenience remittance recipients.
In 2024, remittances to the city reached 9.55 billion USD, a slight increase of 0.9% from 2023, with Asia and America being the top contributors, jointly accounting for 82.2% of the total.
Compared to 2023, remittances from Asia, America, and Oceania all witnessed growth, increasing by 2.5%, 7.4%, and 8.7%, respectively. However, remittances from Europe and Africa showed a downward trend, decreasing by 23% and 33%.
The Tech Titans Flock to Ho Chi Minh City: Unveiling the FDI Resurgence
Foreign direct investment (FDI) in Ho Chi Minh City is on the rise again, with a wave of new investments from prominent high-tech companies. The southern hub has witnessed a rebound in FDI inflows, attributed to its enhanced investment climate, which has attracted the attention of major players in the tech industry. This resurgence signifies a promising future for the city, as it cements its position as a desirable destination for foreign investments in the high-tech sector.
Vietnam Expedites Implementation of 500 Trillion VND Credit Initiative for Infrastructure and Tech Companies
The State Bank of Vietnam (SBV) convened a pivotal meeting in Hanoi on April 10 to discuss and implement the Government’s directive on strategic lending to businesses investing in infrastructure and digital technology.
National Reading Day: Igniting Vietnam’s Intellectual Revolution for the Modern Era
THE HANOI TIMES — The Vietnam Book and Reading Culture Day, a nationwide event, returns for its fourth edition in 2025 with an engaging lineup of activities. Running from April 15 to May 2, the event embraces the theme “Reading Culture – Connecting the Community,” underscoring the significance of books in fostering national growth, enriching […]
Breathing Easy: Vietnam’s Five-Year Plan for Cleaner Urban Air
THE HANOI TIMES — Vietnam’s two largest urban centers, Hanoi and Ho Chi Minh City, have embarked on an ambitious initiative to enhance air quality, targeting a significant improvement over the next five years. This forms part of a broader strategy to combat pollution in the country’s major metropolitan hubs. Deputy Prime Minister Tran Hong […]
The Pen and the Land of the Ascending Dragon
‘A Ridiculous Ritual’
