HCMC: Overseas remittances hit US$ 3.8 bln
14:43 | 10/10/2019

VGP – Ho Chi Minh City absorbed US$ 3.8 billion of overseas remittances in the first nine months, representing a year-on-year growth of 7%. 

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Chairman of the Overseas Vietnamese Committee in HCMC Phung Cong Dung said that the overseas business community and local business circle have made practical contributions to the development of HCMC. 

Overseas businessmen not only contributed overseas remittances but also served as an information network for domestic enterprises to boost outward investment activities. 

In the January-September period, the amount of remittances was estimated at US$ 3.8 billion, representing a year-on-year growth of 7%. The city is expected to receive about US$ 5 billion in 2019. 

The remittances inflows chiefly focused on business and production instead of real estate, stocks, or savings. 

Earlier, the World Bank said that the amount of remittances inflows has increased constantly, making Viet Nam enter the Top 10 remittances recipient countries. Last year, the country received US$ 16 billion of remittances./.  

By Khanh Phuong

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