Wednesday, 8 December 2010

VIETNAM: Remittances to reach $7.3b

HA NOI — Overseas remittances have surged strongly this year and were expected to reach US$7.3 billion by year’s end, an increase of over 14 per cent over 2009, said State Bank of Viet Nam Governor Nguyen Van Giau.

The growth in this figure was considerable in comparison to other measures of foreign capital inflows, e.g., foreign direct investment or official development assistance, and had been increasing steadily in the past two weeks, Giau said, suggested that the increased inflows would help stabilise the foreign currency supplies and reserves, as well as the balance of payments. Read more

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