Bắc Ninh
Overseas remittances to HCMC record highest increase in three years
Overseas remittances to Ho Chi Minh City exceeded US$2.86 billion in the first quarter of 2024, an annual increase of 35.4% and the highest recorded in three consecutive years.
According to data from the State Bank of Vietnam's Branch in HCMC, remittances from Asia continued to dominate, accounting for 59.1% of the total sum.
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An employee counts U.S. banknotes at a bank in Ho Chi Minh City. |
They saw growth of 7.5% from the fourth quarter of 2023 and a substantial rise of 86.1% year-on-year.
Meanwhile, remittances from Europe and Oceania saw declines from the last quarter of 2023.
Nguyen Duc Lenh, deputy director of the branch, noted that despite ongoing global economic challenges and complex geopolitical conflicts, the figures reflected a continuing growth trend, with these remittances playing a crucial role in the city’s socio-economic development.
Moreover, related payment services in the southern largest economic hub have improved, ensuring convenience, safety, and efficiency, added Lenh.
As per official data, remittances to the city grew by 14.2% and 19.4% in the first quarters of 2022 and 2023, respectively.
Minister of Transport Nguyen Van Thang has expressed his hope that Belgian enterprises will study investment possibilities in Vietnam’s key transport projects while meeting with Minister-President of the Government of the Belgian region of Flanders Jan Jambon as part of his recent trip to Europe.
Industrial and export processing zones in Ho Chi Minh City attracted $191.93 million in investment in the first quarter.
Russian energy firm Zarubezhneft, a partner of state-owned Petrovietnam for 40 years, is seeking to invest in offshore wind power in Vietnam.
BAC GIANG - The logistics industry plays an important role in business activities of most types of goods and services. Tapping local advantages, Bac Giang has paid attention to improving infrastructure, raising business capacity and service quality, and developing logistics services.
Efforts to improve the investment environment made by the northern province of Bac Ninh, which borders Hanoi capital city, have proved effective, as it has been among leading destinations in Vietnam for foreign direct investment (FDI) inflows in recent years.
Source: VnExpress
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