Overseas Remittance to Vietnam Expected to Hit Record in 2004

Overseas Remittance to Vietnam Expected to Hit Record in 2004

Total money repatriated by overseas Vietnamese (Viet Kieu) will reach around US$3.1 billion in 2004 after a sum of around US$2.9 billion sent to the country so far this year, compared with a total of US$2.7 billion in 2003.

Of the total, money repatriated by Vietnamese living and working abroad to Ho Chi Minh City, Vietnam’s economic hub, will be around US$1.85 billion, up 11 per cent on-year (via EAB Bank US$550 million, Sacombank US$450 million and Eximbank US$250-280 million), compared with US$1.66 billion last year.

Most of the remittance money comes from the US, Australia, Germany and other industrialized countries.

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