Ho Chi Minh City is the largest center for attracting remittances in the country because many people go abroad to settle down.
On the morning of September 7, the Committee on Overseas Vietnamese in Ho Chi Minh City held a conference to meet overseas Vietnamese returning home and overseas relatives. According to Mr. Vo Thanh Chat, Deputy Chairman of the Committee on Overseas Vietnamese in Ho Chi Minh City, the overseas Vietnamese community now has about 5.3 million people living and working in more than 130 countries and regions, of which more than 80% are in developed countries.
The majority of the people have legal status and stable lives and are deeply integrated into the host society. Currently, about 40% of our compatriots abroad are from or have connections to Ho Chi Minh City, estimated at more than 2 million people.
According to data from the authorities, the number of our compatriots abroad applying for permanent residence registration from 2018 to the end of August 2022 is more than 400 cases, of which more than 350 cases have been completed for permanent residence registration. case.
In 2021, remittances to Vietnam will reach about 12.5 billion USD, up 10% compared to 2020. Of which, remittances sent through credit institutions are about 7%, remittance companies 28%, through post office 2%. Ho Chi Minh City is the largest center for attracting remittances in the country because many people go abroad to settle down. In 2021, remittances are recorded at 7.1 billion USD.
According to the State Bank of Vietnam, Ho Chi Minh City Branch, the total amount of remittances transferred to Ho Chi Minh City through credit institutions and economic organizations in the first 6 months of 2022 reached 3.16 billion USD, down 13% over the same period last year.
The reason for the decrease in remittances in recent years is the conflict between Russia and Ukraine and the difficult economic situation in some countries and regions around the world. This has led to a decrease in the income of overseas Vietnamese workers and the savings ability of overseas Vietnamese is also less than before.