Overseas Remittance Down Slightly in Jan-February
Money remittances from foreign countries to Vietnam via commercial banks slightly decreased in terms of frequency and value in the first two months this year due to global economic difficulties.
Overseas remittance decrease was mostly from markets where there are many Vietnamese guess workers, like Taiwan, Malaysia, the Czech Republic, and the Middle East.
Pham Thi Nga, head of the Overseas Remittance and Retail Policy Division under Vietcombank, said that the bank’s overseas remittance volume in the first two months of the year was US$200 million, down 12 per cent on-year.
The East Asia Bank (EAB) has reported it paid nearly US$230 million worth of overseas remittance, a decrease of 16 per cent over the same period of the last year.
The overseas remittance turnover of the Sacomrex Overseas Remittance Company has reportedly decreased 7 per cent on-year to US$200 million in the first two months of 2009.
Tran Van Trung, director of EAB Overseas Remittance Company, the current monthly overseas remittance is just US$90 million, lower than US$100 million in 2008.
Trung said that the company hopes to obtain the overseas remittance payment turnover in 2009 the same as in 2008, or US$1.2 billion. However, he said that the figure would be gained only if the world economies recover in the last six months of the year.
At present, overseas remittance service providers are trying to improve the overseas remittance turnover by expanding the payment network. (Pioneer)
Vietnamese
