3.16 billion USD of remittances sent to HCMC in 6 months

Friday, 29/07/2022 07:08
Remittances to Ho Chi Minh City (HCMC) reached 3.16 billion USD in the January – June period of this year, down 13% compared to the same period in 2021.
 Photo for illustration (Source: VOV)

The information was announced by the State Bank of Vietnam’s Ho Chi Minh City (HCMC) branch.

The reduction is due to complicated geopolitical developments affecting markets and economic and commercial activities in the world, leading to the income as well as the accumulation of overseas Vietnamese workers being affected.

According to the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD), Vietnam ranks 8th in the world and 3rd in the Asia-Pacific region in terms of remittances in 2021. In 2022, remittances are predicted to continue to increase by about 2.6%, especially when the blockade because of the pandemic has been lifted in many countries around the world./.