Remittances to HCM City reach $5.2 bln in 1H

Overseas remittances to Ho Chi Minh City reached nearly $5.2 billion in the first six months of the year, surging 19.5% compared to the same period last year, according to Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV)'s HCM City branch.

In the second quarter, remittances to the city were estimated at $2.3 billion, up 4.2% year-on-year.

The capital flow from Asia continued to dominate, accounting for 56.1% of the total and increasing 48.5% year-on-year.

Human resources and the labor market are among factors that have positive impacts on the amount of remittances to the city from Asia in the first half of the year, according to Mr. Lenh.

Effective use of remittances and measures to attract remittances also play important role, he said.