, Vietnam

Overseas remittance to Vietnam slips by US$500M

Families relying on remittance may need to cut expenses as the global economy slows down and interest rates on the dollar are kept under control.

In a news release, the Vietnam government reported that overseas remittance via Ho Chi Minh City-based banks in the first six months of 2012 reached US$1.9 billion, down by US$500 million against the same period last year, according to official statistics.

The decrease is mainly attributed to global economic downturn, “frozen” real estate market, and controlled ceiling dollar interest rates.

The city’s major remittance sources come from the US, Australia, Canada and Europe Taiwan, the Republic of Korea and Japan.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!