Overseas remittances increase in first half
Overseas remittances to Vietnam through banks in Ho Chi Minh City hit US$1.9 billion in the first half of this year, 3 percent higher than the same period last year.
The figure for the whole year is expected to reach US$4.5-4.8 billion, higher than the US$4.1 billion figure recorded in 2012, according to the State Bank of Vietnam (SBV).
Normally, overseas remittances to Vietnam climb remarkably during the remaining months of the year as the traditional lunar New Year Festival (Tet) approaches.
Overseas remittances to the country totaled US$10 million last year, the highest –four year level.
Vietnam ranked 9th on the World Bank’s list of top-ten countries that attracted the most overseas remittances last year and ranked 2nd in Southeast Asia.
Statistics show that 4.5 million Vietnamese, including more than 400,000 guest workers, are living in more than 100 countries and territories worldwide and over 80 percent of them were settled in developed nations.