U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters
Around $16 billion in remittances were sent to Vietnam this year, roughly the same as last year, according to the government.
The figure, which came from nearly 6 million Vietnamese residing in 130 countries and territories, contributed to many economic, scientific, educational and healthcare activities in Vietnam, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son said in an interview Thursday.
Last year the $16 billion remittances marked a new record for Vietnam after a period of slow growth due to the impact of Covid-19.
Son said that remittances were among the key factors contributing to the development of Vietnam this year, along with 421 foreign direct invested projects with a combined registered capital of $1.72 billion.
Vietnam will continue to refine its policies and legal framework to foster stronger connections between overseas Vietnamese and their homeland, he said.
Comprehensive and long-term measures will be implemented to support and develop the Vietnamese community abroad, he added.
Efforts are underway to simplify administrative procedures, making it easier for overseas Vietnamese to return to Vietnam to live, invest, and conduct business, he said.
The government is also leveraging information technology to enhance community connectivity and to nurture and develop overseas Vietnamese talent, he added.
The Deputy Prime Minister expressed confidence that overseas Vietnamese communities will continue to maximize their potential, grow stronger, and strengthen ties with the homeland, contributing significantly to the country’s development in the coming years.
Economic diplomacy continues to play a pivotal role in Vietnam’s overall economic success. The country’s total trade turnover is projected to reach a record $800 billion this year.
Vietnam remains one of the world’s leading recipients of foreign direct investment. Additionally, the first 11 months of 2024 saw over 15.8 million international tourists visiting Vietnam, marking a 44% increase compared to the same period in 2023.
