Vietnam Gets US$38B Remittances over Two Decades
Vietnam has received US$38 billion remittances over the past two decades, much higher than FDI and ODA disbursements, according to leading economist Pham Do Chi.
Last year, Vietnam got about US$8 billion remittances, Chi said in a statement.
Chi estimated the total income by more than three million overseas Vietnamese, or Viet Kieu, at US$50 billion/year, equaling half of the country’s GDP.
Viet Kieu remit back an average US$5 billion each year to their homeland, Chi said.
The government of Vietnam should learn lessons from China in drawing back the remittance inflows and potentials of Vietnamese intellects abroad, Chi suggested. (Investment)
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