City’s inward remittance reaches $3 bln in 9 months

Ho Chi Minh City has received US$3.375 billion worth of remittances as of the end of September, according to the municipal branch of the State Bank of Vietnam

City’s inward remittance reaches $3 bln in 9 months

The sum is 6 percent higher than the remittances it received last year, most of them poured into business.
For instance, 72 percent of overseas money is being channeled into business, 22 percent into realty and 6 percent for personal spending.
Most of remittance is from the U.S. with 60 percent and the remaining from China and South Korea.
The branch of the State bank of Vietnam also said the remittance from countries remittance pouring to Vietnam in September increased by 12.5 percent compared to the month before.
With such rise of remittance in Ho Chi MInh City in October, it is estimated that total remittance of the year will reach $5.7 - 5.8 billion, a year-on-year rise of 5.6 percent.

By NHUNG NGUYEN - Translated by UYEN PHUONG

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