Overseas remittances to Ho Chi Minh City in the first nine months of 2024 reached nearly US$5.49 billion, up 10.4 percent over the same period last year and equal to 77 percent of the whole year of 2023.
The Overseas Vietnamese Committee of Ho Chi Minh City this morning hosted a conference to implement the project “Policy to effectively promote remittance resources in Ho Chi Minh City from now until 2030”.
Speaking at the conference, Deputy Director of State Bank of Vietnam- Ho Chi Minh City Branch Nguyen Duc Lenh said that foreign remittances to Ho Chi Minh City gained US$9.46 billion last year, showing a remarkable result.
In the first nine months of the year, the number reached US$5.49 billion, up 10.4 percent over the same period last year. Of these, 14 overseas remittances companies accounted for 77.4 percent of the total remittances to the city.
Although overseas remittances in the third quarter of the year were less than in the second quarter, the set target of overseas remittances growth of 10 percent per year is feasible with this momentum.
Chairwoman of the Committee for Overseas Vietnamese in Ho Chi Minh City Vu Thi Huynh Mai stressed that the project “Policy to effectively promote remittance resources in Ho Chi Minh City from now until 2030” would be a completely new policy project of Ho Chi Minh City and be implemented for the first time.
Overseas Vietnamese, representatives of Vietnamese diplomatic agencies abroad also attended the conference online and showed their great support and consistent when Ho Chi Minh City approved the project.
Chargé d’affaires ad interim of the Socialist Republic of Vietnam in Japan Nguyen Duc Minh evaluated that Ho Chi Minh City has been leading the country and determined to implement the project. He added that the embasy would working on helping overseas Vietnamese grasp the policy and investment opportunities.
In Australia, President of the Vietnam Business Association in Australia Tran Ba Phuc expressed his desire that Vietnamese banks would work with partners in Australia to facilitate money transfer between the two countries which would boost import-export activities between the two nations.
The Vietnam Business Association in Australia has recently mobilized AUD45,000 to donate for people in the Northern provinces and cities affected by floods and typhoon Yagi. However, the money transfer channel has not been convenient with more than ten percent fee.
By Mai Hoa- Translated by Huyen Huong
