Remittances to HCM City Rise 14 Pct in August
Remittances to Vietnam’s southern economic hub, Ho Chi Minh City, in August increased by 14 per cent from July, coming mainly from the US and Europe, according to the local branch of the State Bank of Vietnam.
Nguyen Hoang Minh, Deputy Director of the SBV-HCM City branch office, said the August figure brought total remittances in the first eight months to US$2.85 billion, up nearly 6 per cent against the same period last year.
He estimated that the amount would reach US$5.7-5.8 billion for the whole year.
According to banks located in the city, remittances mainly flow into manufacturing and business (making up 80 per cent), real estate (13 per cent) and several other fields.
NDO/VNA
Vietnamese
