HCM CITY — Money sent from Asian countries made up 50.5 per cent of the total overseas remittances to HCM City last year, Việt Nam’s largest economic hub, a massive 143.8 per cent spike year-on-year, according to the State Bank of Vietnam (SBV)’s branch in the city. Inward remittances to HCM City rose 43.3 per cent year-on-year to US$9.46 billion in 2023, a record high over the past decade and accounting for more than half of the national total. With approximately six million Vietnamese nationals living abroad, remittances sent to Việt Nam from 1993 to 2022 have amounted to $190 billion, according to the Ministry of Foreign Affairs. In 2023, the World Bank estimated that Việt Nam received approximately $14 billion in remittances, while this figure reached a record number of $19 billion in 2022. Việt Nam has been among the global top 10 recipients of remittances for many years, with overseas Vietnamese residing in more than 130 countries and territories, and around 600,000 of them with undergraduate or higher degrees.

Source: Viet Nam News February 16, 2024 10:13 UTC