72 percent overseas remittances run into production, trading

Seventy two percent of US$5.2 billion remitted to HCMC last year ran into production and trading, 22 percent to real estate and the remaining funds to consumption and relative assistance, reported chairman of Committee for Overseas Vietnamese in HCMC Phung Cong Dung yesterday.

Overseas Vietnamese make chung cake for Tet

Overseas Vietnamese make chung cake for Tet

Last year overseas remittance to HCMC posted a year on year increase of 4.5 percent over 2016.
According to Mr. Dung, many overseas Vietnamese returned to visit their fatherland, helped relatives and positively attended social and charitable activities.
Overseas Vietnamese experts and intellectuals contributed in improving city human resource quality, offered suggestions to Vietnam’s electronic circuit field to attend Industry 4.0 and assisted the city to develop hi-tech agriculture.
However, building database on overseas Vietnamese to study, analyze and give professional advises for long term programs has met with lot of difficulties and shortage of coordination and assistance from authorized agencies.
The Committee for Overseas Vietnamese in HCMC proposed the city People’s Committee to supplement policies and regulations to suit the situation of Vietnamese abroad, especially the policy of luring overseas Vietnamese businessmen and intellectuals.
This year, the committee will work with relevant sides to organize dialogues between agencies and overseas Vietnamese businesses to solve difficulties for them.
In addition, they will host connectivity activities between overseas Vietnamese intellectuals and universities or businesses to create highly applicable and practical science study and research environment.

By MANH HOA - Translated by Hai Mien

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