HCM City remittances forecast to hit record US$10.5b

HCM City remittances forecast to hit record US$10.5b

Despite continued volatility in the global economy, remittance inflows to HCM City are maintaining a steady growth trajectory and are projected to reach a historic high of US$10.5 billion in 2025.

Overseas remittances to HCM City are projected to set a new record in 2025 amid stable macroeconomic conditions.— VNA/VNS Photo

Despite continued volatility in the global economy, remittance inflows to HCM City are maintaining a steady growth trajectory and are projected to reach a historic high of US$10.5 billion in 2025.

According to Trần Thị Ngọc Liên, deputy director of the State Bank of Vietnam Branch for Region 2, the forecast is based on current statistical data and the typical acceleration of remittance inflows toward the year-end period.

The projected figure represents an increase of 10.5 per cent compared to 2024.

Liên described the growth as highly encouraging, reflecting overseas Vietnamese communities’ growing confidence in domestic economic stability, as well as the effectiveness of flexible exchange-rate management and a stable interest-rate environment.

She noted that the city’s economy, alongside Việt Nam’s broader macroeconomic landscape, has continued to demonstrate resilience and stability.

Prudent monetary policy, particularly the maintenance of stable interest rates and flexible exchange-rate operations, has helped create favourable conditions for attracting remittances.

These inflows not only support household consumption but also supplement capital for production and business activities.

In the first nine months of 2025 alone, remittances transferred to the city reached $7.94 billion, up 6.3 per cent year-on-year.

The city has consistently remained the country’s largest remittance recipient, accounting for around 60 per cent of total national inflows.

In terms of regional composition, Asia continued to be the largest source of remittances to the city as of the end of the third quarter of 2025, contributing more than 50 per cent of the total value. This was followed by the Americas with 30 per cent, Europe with 9 per cent, Oceania with 8.4 per cent, and Africa with 2 per cent.

Notably, remittances from Africa recorded exceptional growth, surging by more than 150 per cent compared to the same period last year.

Other regions also posted solid increases, with inflows from Europe rising by 16.7 per cent, Oceania by 11 per cent, and the Americas by 10 per cent.

Traditionally, remittance inflows tend to rise sharply toward the end of the year, particularly around Christmas and the Lunar New Year.

Over many years, HCM City has consistently led the country in attracting remittances, underscoring its role as a dynamic and economically vibrant urban centre.

With its position as a hub for innovation and economic activity, the city continues to benefit from the strong engagement and contributions of overseas Vietnamese communities, which play an important role in supporting local economic growth.

The city authorities are continuing to refine policies and mechanisms to facilitate overseas Vietnamese participation in key socio-economic programmes.

Looking ahead to 2026, remittance inflows to HCM City are expected to maintain their upward momentum.

The city is currently advancing a range of measures and proposals to mobilise capital for major projects, including the city's International Financial Centre, a planned free trade zone, real estate developments and other capital-intensive sectors.

These initiatives are expected to further strengthen overseas Vietnamese confidence in the city’s long-term development strategy.

In parallel, the city has approved a dedicated scheme to attract remittance resources through to 2030, with close coordination among departments and agencies to improve implementation.

This is regarded as a key foundation for mobilising and effectively utilising overseas Vietnamese resources, contributing to stable, sustainable growth and supporting the city’s ambition of achieving double-digit economic expansion in the years ahead.

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