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Overseas remittances to Việt Nam surges

VGP 05/12/2011 – The World Bank (WB) has estimated that the volume of remittances sent home by overseas Vietnamese would reach nearly US $9 billion in 2011, slightly higher than the figure last year.

The figure places Việt Nam among the top ten countries receiving overseas remittances through official channels. The others include India, China, the Phillipines, Pakistan, Bangladesh, Nigeria, Egypt and Lebanon.

The WB said a sharp increase in the amount of remittances sent home by overseas Vietnamese in a recent decade, from US $1.34 billion in 2000 to US $8.26 billion in 2010, would make it a record this year.

Remittances can help address trade deficit and improve payment balance if the receiving countries adopt proper policies to mobilize this source for socio-economic development.  
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