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Home / Investment / ODA projects
70% of overseas remittances poured in business and production
By Tuan Minh 11:15, 2014/01/25
Nearly 70% of overseas remittances in 2013 was poured in business and production, serving to extricate difficulties for enterprises and household businesses.
The inflow of overseas remittances increased constantly from US$ 8.26 billion in 2010 to US$ 9 billion in 2011, US$ 10 billion in 2012 and US$ 11 billion in 2013. Viet Nam continued to be in Top 10 overseas remittance recipients.

Noticeably, the source no longer focused on the real estate sector.

A survey conducted by the National Financial Supervision Committee in 2011 showed that 52% of the money sent to 4,000 households was invested in the real estate sector. The rest of 48 % came to bank savings and consumption activities.

The trend reversed in the last ten months of 2013, in HCMC, the real estate sector absorbed only 21% of overseas remittances, a sharp declined in comparison with 52% in 2011 and 23% in 2012.

A report on the 2014 macro-economic performance compiled by the Bank for Investment and Development also said that overseas remittances are shifting from real estate to production. 

The trend was projected to continue in 2014 and the inflow of overseas remittances would pick up 10%.

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