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Remittances to Ho Chi Minh city continue to grow

by VTV424 May 2023 Last updated at 06:00 AM

VTV.vn - The number of remittances transferred to Ho Chi Minh City could reach 7 billion USD this year, according to the State Bank of Vietnam's forecast.

This represents an increase of about 6-7% compared to last year.

The amount of remittances transferred to Ho Chi Minh City has increased continuously in the last 5 years. Particularly in the first quarter of this year, it reached over $2.1 billion, up more than 19% over the same period the previous year.

This is possible due to the city's open policy mechanism, which means that the relatives of remitters do not have to pay income tax and can receive the money directly or by transfer.

Along with that, there are numerous transaction points, agents, and payment organisations that facilitate the disbursement of remittances./

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