Viet Nam remittances hit $12 billion in 2014
Viet Nam remittances hit $12 billion in 2014
Remittances to Viet Nam reached US$12 billion in 2014, about $1 billion more than the amount recorded in the previous year.
The remittance figures were announced at a meeting of nearly 700 members of the overseas Vietnamese community late last week, organised by the foreign affairs ministry and the HCM City People's Committee.
According to the State Bank of Viet Nam, up to 70 per cent of the remittances was poured into production and business activities during the first half of 2014. This was different from the situation in previous years, when these finances were mainly invested in areas such as property, securities and savings.
There are approximately 4.5 million overseas Vietnamese living and working in 103 countries and territories. They have registered about 2,000 investment projects in Viet Nam so far.
Participants at last week's meeting agreed that the government should further help overseas Vietnamese in enhancing the efficiency of investment projects.
Vietnamese-American David Duong, who is the general director of the Vietnam Waste Solution Company, told the Voice of Vietnam, "All overseas Vietnamese want to contribute to the development of their homeland. The benefits they can bring home include technology and knowledge that they learn from other countries.
"In order to attract them to invest more, I think that the government should have more regulations and policies to stimulate and secure their confidence."
