Remittances to HCM City maintained a positive growth rate in the first three months of 2025. — Photo nhadautu.vn

HCM CITY — Remittances to HCM City maintained a positive growth rate in the first three months of 2025, reaching over US$2.4 billion, accounted for 25.3 per cent of the total for the entire year 2024 and marking an increase of 19.6 per cent compared to the previous quarter.

Of the figure, remittances through remittance companies amounted to nearly $1.76 billion, while commercial banks received $655 million, according to Deputy Director of the State Bank of Việt Nam's Region 2 Branch Nguyễn Đức Lệnh.

Remittances to the city from Asia continued to make up the largest share, 48.7 per cent, up 46.1 per cent from the previous quarter.

Analysing the remittance situation in HCM City, Lệnh stated that there were positive factors for increasing remittances, such as the effectiveness of monetary and foreign exchange policy mechanisms, a stable investment and business environment and the development of the labour market.

Additionally, remittance companies and commercial banks provided high-quality services that create convenience for remittance recipients.

In 2024, remittances to HCM City amounted to $9.55 billion, up 0.9 per cent from 2023, with Asia and America holding the largest shares, together accounting for 82.2 per cent of the total.

Compared to 2023, remittances from Asia increased by 2.5 per cent; from America by 7.4 per cent; and from Oceania by 8.7 per cent. Conversely, those from Europe and Africa decreased by 23 per cent and 33 per cent, respectively. — VNS