The amount of remittances transferred to Ho Chi Minh City continues to grow well, expected to reach 7 billion USD in 2023, an increase of about 6-7% compared to 2022.

The amount of remittances transferred to Ho Chi Minh City has increased continuously in the last 5 years, reaching the peak in 2021 at more than 7.1 billion USD. In 2022, the amount of remittances decreased to 6.6 billion USD, however, this is still a high level.

With the amount of remittances transferred to Ho Chi Minh City in the first quarter of over 2.1 billion USD, an increase of more than 19% over the same period last year, it is expected that remittances to the city could reach about 7 billion USD in 2023, about 6-7% higher than 2022.

This is possible because the city has an open policy. For example, relatives do not have to pay income tax and can receive it directly or by transfer. In addition, there are systems of transaction points, agents, and payment organizations, which meet the payment of remittances.

In order to continue to expand and attract remittances, many experts believe that Ho Chi Minh City needs to continue to exploit the leading economic, cultural and educational center of the country.

At the same time, it is necessary to continue to improve the investing environment to attract capital and remittances to invest in production and business development, especially in the fields of health, education, culture, and other sectors such as technology; green economic development.

Source: VTVNews