Remittances in 7 months reached 2.5 billion USD. Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam Ho Chi Minh City branch, said that as of the end of July 2016, the amount of remittances […]
Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam Ho Chi Minh City branch, said that by the end of July 2016, the amount of remittances transferred to Ho Chi Minh City was estimated at 2.5 billion USD, an increase of about 4.16% over the same period in 2015.
According to Mr. Minh, the amount of remittances transferred to Ho Chi Minh City is still mainly concentrated from the US and Europe. Most of the remittances transferred are used by people for production, business, and investment, not distributedDon't keep, spend or focus on investing in real estate or stocks like before.
Mr. Minh also said that with the stability of the exchange rate, the amount of remittances transferred by people to banks is quite high, at 20% - 35%.
In the trend of increasing the amount of remittances transferred to Ho Chi Minh City each year (an average increase of 10% - 12%/year from 2011 to 2015), along with the increasingly warm Ho Chi Minh City real estate market, the State Bank of Ho Chi Minh City branch forecasts that the amount of remittances transferred to Ho Chi Minh City in 2016 will continue to be positive, expected to reach 5.7 - 5.8 billion USD, up 5.6% over the year. last year, at 5.5 billion USD.
Procedures
