Nine-month overseas remittances to HCMC reach US$3.8 billion

In the first nine months of this year, overseas remittances to Ho Chi Minh City via commercial banks and economic institutions were estimated at around US$3.8 billion, an increase of 7 percent over the same period last year.
Mr. Phung Cong Dung, chairman of the Ho Chi Minh City Committee for Overseas Vietnamese Affairs, said that the overseas Vietnamese business community and enterprises in the city have made practical contributions to the development of the city. The resources of overseas entrepreneurs and businesses is not only the amount of overseas remittances but also the information network to support domestic enterprises to promote investment and business activities abroad.

As for cooperation between businesses, Mr. Steve Bui, vice chairman of the Vietnam-Korea Businessmen and Investment Association (VKBIA), shared that South Korea favors Vietnamese products, especially coffee and noni fruits. If Vietnamese enterprises want to do business steadily in South Korea for a long time, they should ensure hygiene and food safety. He also said that he is willing to connect and support Vietnamese enterprises if they need.

The HCMC Committee for Overseas Vietnamese Affairs on October 9 held the conference ‘Overseas entrepreneurs accompany HCMC-based enterprises’. At the conference, the committee and the Investment and Trade Promotion Center of Ho Chi Minh and the VKBIA and the Association of Vietnamese Entrepreneurs in Italy (ASSOEVI) signed two memoranda of understanding in order to support each other more effectively in searching for opportunities and expanding markets for investment and business.

By Manh Hoa – Translated by Thuy Doan

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