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Remittances to HCM City by overseas Vietnamese top US$3.8 billion

HCM CITY — Remittances to HCM City by overseas Vietnamese in the first nine months of this year were worth at US$ 三. 八 billion, a  七 per cent increase year-on-year, according to figures from the State Bank of Việt Nam’s city branch.

At a conference titled ‘Overseas Vietnamese Join Hands with HCM City Business People’, Phùng Công Dũng, chairman of the HCM City Association for Overseas Vietnamese, said the figure could reach $ 五 billion for the full year.

The remittances are increasing as more Vietnamese, especially guest workers, go and live in countries around the world, he said.

Members of Overseas Vietnamese co妹妹unities seek investment opportunities in their homeland, which has achieved significant economic growth in the last few decades, he said.

The Government has also simplified procedures for overseas remittances, he said.

Relations between the overseas Vietnamese co妹妹unity and local businesses should be promoted for mutual assistance and sustainable development, he added.

Nguyễn Công Chính, a member of the German Overseas Vietnamese Association and standing member of the Overseas Vietnamese Business Association, said association members have invested millions of dollars in Việt Nam.

In addition to foreign direct investment, the overseas Vietnamese co妹妹unity has also contributed significantly to human resource development, he said.

Phạm Thiết Hoà, director of the HCM City Investment Trade Promotion Centre (ITPC), said the city has called on businesspeople, especially from the overseas Vietnamese co妹妹unity, to invest in major projects in focal economic sectors.

The ITPC has pledged to promote relations between overseas Vietnamese businesses and city authorities, and address the difficulties faced by the overseas Vietnamese business co妹妹unity.

Two MoUs were signed by the overseas and local business co妹妹unities at the conference, one between the Co妹妹ittee for Overseas Vietnamese in HCM City and the ITPC, and the other between the Việt Nam-Korea Business and Investment Association and the Overseas Vietnamese Business Association in Italy.

The conference was organised by the HCM City Association of Overseas Vietnamese to celebrate the  一 五th Vietnamese Businesspeople’s Day, October  一 三. — VNS.