HANOI: Despite a challenging global economic landscape, Vietnam continues to stand resilient as one of the top 10 recipients of overseas remittances worldwide, with an estimated US$14 billion last year, according to the World Bank’s Migration and Development Brief and the Global Knowledge Partnership on Migration and Development (KNOMAD).
Breaking records on its own, Ho Chi Minh City boasted a remarkable annual surge of 43.3% in remittances, reaching an impressive US$9.46 billion – a figure that also marked a 10-year high, reported the state news agency (VNA).
A report from the State Committee for Overseas Vietnamese Affairs revealed that Vietnam has garnered over US$190 billion in remittances over the past three decades, nearly matching the total FDI disbursed during the same period.
Among the countries contributing to this influx, the US took the lead, followed by the UK, Australia, and Canada.
Source: Emirates News Agency