HCMC – Incoming remittances to HCMC totaled US$2.41 billion in the first quarter of this year, up by 19.6% against the previous quarter, according to the State Bank of Vietnam (SBV)’s Regional 2 Branch.
Of the figure, remittances through money transfer companies amounted to nearly US$1.76 billion, and US$655 million through commercial banks, said Deputy Director of the SBV’s Region 2 Branch Nguyen Duc Lenh.
Although remittances to HCMC in January-March were lower than the same period last year, they remained higher than in the same period in 2023 and 2022.
Notably, Asia remained the leading source of remittances, accounting for 48.7% of the total and marking a 46.1% rise from the previous quarter, the highest growth among all regions.
Favorable investment and business conditions, along with the growth of tourism, cultural, and sports activities tied to traditional national values and major national celebrations, are expected to positively impact remittance inflows and promote the effective use of these funds in 2025 and beyond.
In 2024, HCMC received US$9.54 billion in remittances, up by 0.9% from 2023. Asia and the Americas were the two largest sources, accounting for a combined 82.2% of the total remittance inflow during the year.
