HCMC remittances reach US$4.4 billion

Oversea remittances to Ho Chi Minh City reached US$4.4 billion in the first 11 months this year and are expected to top US$5 billion this year, according to statistics by the city branch of the State Bank of Vietnam.
HCMC remittances have run more into production and trade and real estate fields than others. Last year, a total of US$4.8 billion was remitted to the city.
The Vietnam Bank for Industry and Trade forecast that Vietnam will continue to be among top ten nations receiving most remittances this year. It has grown about 10 percent to hit US$12.1 billion.
From 1993 to 2014, the remittances to Vietnam reached US$96.66 billion or averaged about US$4.4 billion a year, accounting for 6.8 percent of the Gross Domestic Product.

By Nhung Nguyen – Translated by Hai Mien

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