Remittances increase

According to Ho Chi Minh branch of the State Bank of Vietnam, remittances into the city reached 3.7 billion USD in first 10 months of this year.

They are expected to reach 5 billion USD by the year’s end. Experts believe that the inflows are due to more liberal financial policies and easier ways to transfer money. Better ties between domestic and foreign commercial banks and the rising number of Vietnamese living abroad were also cited as reasons for the increase./.