HCM City earns US$2bn in remittanceRemittance inflows to HCM City in the first five months of this year reached US$2 billion, almost double compared to the first quarter of 2018. Remittances often depend on macroeconomic conditions, the situation of overseas workers as well as services attracting remittances. — Photo baodauthau.vnAccording to Nguyen Hoang Minh, deputy director of State Bank of Viet Nam’s HCM City branch, most of the remittance was invested in production and business instead of being poured into real estate, securities or savings as earlier. Since the beginning of this year, the situation has looked good, with stable remittance flowing into the city and gradually increasing. In recent years, remittances to HCM City has increased by an average of 8 to 10 per cent per year.

Source: VietNamNet News June 13, 2018 10:07 UTC