Monday 3 December 2007

Vietnam: REMITTANCES FROM OVERSEAS VIETNAMESE EXCEED US$5 BILLION

November 30, 2007, 3:15 pm

HANOI, Nov 30 Asia Pulse - Remittances by overseas Vietnamese have continued to rise, and are expected to reach US$5 billion this year, a State Bank of Vietnam official has said.

Nguyen Ngoc Lan, deputy head of the bank's Overseas Remittances Management Department, said a large portion of the remittances, US$1.6 billion last year, were sent by Vietnamese guest workers abroad. "The remittances, already at around 5 per cent of the country's GDP, will continue to increase as more people go abroad to work", Lan said.
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