Hanoi (VNA) - Remittances to HCM City in the past four months reached more than 1.3 billion USD, up 211 million U🦂SD against t🍸he previous month.
The Deputy Director of the State Bank of Vietnam's (SBV) HCM City branch, Nguyen Hoang Minh, said the amount was up 2 percent against the same period last year.
Reports from the SBV's HCM City branch also showed the US dollar capital mobilisation by the city-based commercial banks in the reviewed period declining 11.02 percent early this year due to the zero percent interest rate policy and the stability of foreign exchange.
Experts forecast that the remittances to HCM City this year would continue to be optimistic, reaching roughly 5.5 billion USD, the same as last year, thanks to the city's economic growth. Remittances to HCM City, which is one of the top localities nationwide with the largest volume of remittances, last year inched up against the 5.2 billion USD received in 2014. More than 70.8 percent of the remittance value flowed to production and business, while roughly 21.6 percent went into real estate and 7 percent was for relatives.
It is forecast that remittances to Vietnam this year will increase slightly in comparison with last year in wake of the Government's policies to encourage overseas Vietnamese to invest in their homeland and the warming local real estate market.-VNA
The State Bank of Vietnam (SBV) has issued strict regulations on the establishment and operation of remittance companies under commercial banks in order to better manage money transfer services.
The remittances to Ho Chi Minh City, which is one of the top localities nationwide receiving the largest volume, reached more than 900 million USD in the first two months this year.
More capital continues flowing into HCM City’s real estate sector as local companies and foreign partners join hands to take advantage of the new housing law.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
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The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Illustrative photo (Source:Internet)
