Remittances in 2020 estimated at nearly $15.7b

26-Nov-2020 Intellasia | Nguoi lao dong | 6:02 AM Print This Post

At the press meeting on the afternoon of November 23, Ambassador Luong Thanh Nghi, vice Chair of the State Committee for Overseas Vietnamese (NVNONN), said that up to now, NVNONN community has about 5.3 million people, live and work in more than 130 countries and territories, of which over 80 percent are in developed countries.

NVNONN community is increasingly attached to the homeland, has become one of the important resources to contribute to the process of construction, protection, development and international integration of the country. As of October 2020, overseas Vietnamese from 27 countries and territories had 362 FDI projects invested in Vietnam with a total registered capital of 1.6 billion USD. In the last five years (from 2015 to 2019), with an average growth of 6 percent per year, total remittances reached more than 71 billion USD, accounting for about 44 percent of total remittances achieved within 20 years (from 1993 to end of 2019).

Particularly in 2020, the World Bank forecasts remittances to Vietnam will reach 15,686 billion USD, equivalent to 5.8 percent of GDP. Vietnam is one of the 10 countries with the highest remittances in the world.

Overseas Vietnamese always accompany, respond positively, participate in donations, support local people in overcoming consequences of natural disasters and preventing epidemics. In particular, despite many difficulties due to the Covid-19 epidemic, the NVNONN community has donated an amount of about 35 billion dong, along with many medical supplies for epidemic prevention in the country. During the recent flood in the Central region, up to now, expatriates have raised about 34 billion dong, along with many goods to support local people in overcoming the consequences of natural disasters and stabilising their lives.

The preliminary meeting of five years of implementation of Directive 45-CT/TW, State Committee on Overseas Vietnamese will take place on November 27 in Hanoi, chaired by deputy prime minister and Foreign minister Pham Binh Minh. maintenance. prime minister Nguyen Xuan Phuc is expected to attend and address. The conference was attended by 400 delegates who are leaders of departments, ministries, branches, localities, heads of Vietnamese representative missions abroad for the term 2020-2023… and over 100 overseas nationals currently living, work in the country..

The conference consists of 3 sessions: Completing and improving the efficiency of general policies for NVNONN; Attract NVNONN resources to serve the cause of building, protecting and developing the country; Strengthen information propaganda, promote teaching and learning Vietnamese for NVNONN.

Before that, on the afternoon of November 26, there will be a conference to collect opinions of expatriates on the implementation of Directive 45-CT/TW with the participation of more than 100 expatriates, representatives from departments, ministries, central branches and localities. with many comments.

Nghi also added that he plans to hold a conference on overseas nationals worldwide in 2021 to continue attracting enthusiastic opinions of expatriates.

 

Category: Finance, Vietnam

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