Over 5.2 billion USD in remittances to Ho Chi Minh City in the first half of 2025

The total amount of remittances sent to Ho Chi Minh City in the first 6 months of 2025 reached 5.23 billion USD; in which, remittances from Africa to the City increased dramatically...

Ms. Tran Thi Ngoc Lien, Deputy Director of the State Bank of Vietnam, Region 2 Branch, assessed that the amount of remittances transferred in the second quarter of this year through credit institutions and economic organizations increased sharply compared to the same period in recent years.

In terms of market growth rate in the first 6 months of 2025 compared to the same period, Africa had the highest increase in remittances to the city of 130.8%; Europe had a growth rate of 16%; America increased by 11.9%; Oceania increased by 8.9%...

Asia continued to be the market with a large proportion and dominated the remaining markets. The reason could be due to the strong increase from markets such as Japan, Korea, Taiwan - where many Vietnamese workers work.

"The steady increase in remittances through the stages has created conditions for the city's economic development, stimulated consumption and investment, increased foreign currency supply...", said Ms. Tran Thi Ngoc Lien.

Since July 1, 2025, the State Bank of Vietnam, Branch 2 located in Ho Chi Minh City, has managed the old neighboring provinces such as Dong Nai, Ba Ria - Vung Tau, Binh Duong, Binh Phuoc.

According to information from the State Bank of Vietnam, Region 2 Branch, as of June 30, the total amount of remittances transferred through credit institutions in Ba Ria - Vung Tau, Binh Duong, Dong Nai and Binh Phuoc (before the merger) reached more than 127.5 million USD.

These provinces do not have economic organizations directly receiving and paying foreign currency. Accordingly, remittances transferred through credit institutions in Ba Ria - Vung Tau province reached more than 27.2 million USD, Binh Duong reached more than 53.2 million USD, Dong Nai reached more than 42.3 million USD, Binh Phuoc reached more than 4.6 million USD.

In 2024, Ho Chi Minh City approved the Project to attract remittances, including improving the quality of remittance transfer and payment services at credit institutions and economic organizations to domestic recipients. The total amount of remittances transferred in 2024 in the area reached 9.547 billion USD. Of which, Asia and America have the highest proportion of remittances (accounting for 82.2% of total remittances in 2024) and continue to maintain a positive growth rate.