Overseas remittances decrease

According to statistics, overseas remittances to Ho Chi Minh City in 2016 were only 5 billion USD, down 500 million USD from the previous year. Remittances to HCM City accounted for more than half of the total overseas remittances to the country.

Oversea banks have simple procedures and low fees, while in Vietnam, interest rates range from 0.15- 0.5% , depending on what area you're in. The interest rates should be reduced in order to provide the best support for remittance receivers. Therefore, according to experts, more policies are needed to improve the investment environment. It is believed that remittance inflow will continue if there are more profitable domestic opportunities.