Overseas remittance to HCMC tops $3.9 billion

SGGP
Overseas remittance to HCMC topped $3.9 billion during the first ten months of 2017, said the State Bank of Vietnam (SBV) in HCMC yesterday.

Overseas remittance to HCMC tops $3.9 billion

The source of funds has been stable and on the rise since early this year. In October, it reached $600 million, up 5 percent over the same period in 2016.
Sixty percent of the amount remitted to HCMC has been from the US and over 19 percent from Europe. Most of the funds has been used for production, trading and investment instead of real estate or stocks as before.
According to the SBV branch, overseas remittance is expected to hit $5.2 billion this year, up 4.5 percent over 2016 as it usually highly increases in yearend months.

By MINH HUY – Translated by Hai Mien

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