Overseas Vietnamese (OV) affairs have proved effective and contributed to the country’s socio-economic development. — VNA/VNS Photo

HÀ NỘI – Overseas Vietnamese (OV) affairs have proved effective and contributed to the country’s socio-economic development.

The statement was made by Lương Thanh Nghị, deputy head of the State Committee for Overseas Vietnamese Affairs, on the sidelines of the 30th Diplomatic Conference yesterday.

Nghị recalled the Overseas Vietnamese Conference held in HCM City in 2016, which attracted the participation of around 500 Vietnamese expats from around the world. Participating OVs made about 50 proposals related to different issues, serving the development of HCM City in particular and Việt Nam in general.

To date, several proposals have been carried out, including HCM City’s smart city project, measures to address traffic congestion and develop high technology in agriculture.

The State Committee for Overseas Vietnamese Affairs has connected with young Vietnamese scientists and intellectuals from organizations such as the Association of Vietnamese Scientists and Experts, the Vietnam Initiative and the Vietnam Challenge in the US. Many of them have contributed ideas to Việt Nam’s lawmaking process, especially in the fields of digital economy, sustainable development, clean energy, and blockchain technology.

The committee also coordinated with HCM City to hold a start-up forum to connect young Vietnamese people inside and outside the country in San Francisco in late 2017 and a similar event in the Vietnamese city in June 2018.

These forums have helped domestic offices and localities build an effective start-up ecosystem that can attract young Vietnamese people living abroad, Nghị stated.

According to Nghị, more and more OVs are keen on coming back home to do business. They have so far poured nearly US$4 billion into around 3,000 projects in 45 provinces and cities, which have produced huge economic benefits, created jobs for locals and contributed to the nation’s socio-economic development.

The remittance inflows are on an uptrend as well. Statistics from the World Bank showed that remittance to Việt Nam was valued at $25 billion in 2016-2017, 60 percent of which was invested in production and business.

Nghi said that one of the state committee’s main tasks is to attract more contributions from young OVs.

There are around 130,000 Vietnamese students learning abroad, who are expected to become important contributors to the country’s development in the future, he added.-VNS