VOV.VN - Overseas remittances to Ho Chi Minh City, the country’s largest economic and financial hub, rose more than 35% in the first quarter of this year to nearly US$2.87 billion, according to the State Bank of Vietnam Ho Chi Minh City branch.
This is the largest amount of overseas remittances HCM City has received in the first quarter over the past three years, said Nguyen Duc Lenh, deputy director of the branch.
Of the total value, remittances from Asia made up 59% and posted impressive growth of 86% compared to the same period last year.
Lenh attributed the rise to economic recovery and steady growth in Asia that has fuelled tourism services and employment demand.
HCM City represents half of the total amount of overseas remittances to Vietnam every year. The remittances play an important role in spurring the city’s socio-economic development.
VOV.VN - Remittances sent by Vietnamese nationals abroad hit approximately US$16 billion last year, representing a year-on-year rise of 32%, according to the State Bank of Vietnam.
VOV.VN - Vietnamese expatriates tend to send home remittances due to global geopolitical insecurities, with the amount expected to rise sharply in the coming days ahead of the lunar New Year festival.
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