Overseas remittances to Vietnam are expected to increase by US$300 million this year to around US$5 billion, said an official from the State Bank of Vietnam (SBV).
The flow of overseas remittances to Ho Chi Minh City alone is estimated at US$3.6 billion, an increase of US$600 million from 2006, said Nguyen Ngoc Lan, Deputy Director of the SBV’s Foreign Exchange Management Department.
Sacomrex, a foreign remittance service company under the Saigon Thuong Tin Commercial Bank (Sacombank), took the lead in attracting overseas remittances in the last 11 months, with US$840 million. The figure is expected to increase to US$930 million by the end of this year, 40 percent higher than 2006’s figure. Meanwhile, the Bank for Foreign Trade of Vietnam (Vietcombank) also reported a 50-percent rise.
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