HCMC absorbs over 10.34 billion of remittances in 2025

Tran Thi Ngoc Lien, Deputy Director of the State Bank of Viet Nam – Region 2 Branch reported that the amount transferred through remittance companies stood at nearly US$7.43 billion, accounting for 71.8 percent of the total, while nearly US$2.92 billion transferred through commercial banks, equal to 28.2 percent.

Despite modest growth compared to other regions, Asia continued to serve as the main source of the city’s remittance structure, thanks to its stable and sizable inflows. 

Asia contributed nearly US$5.06 billion, equal to 48.9 percent of the total. This marked a 3.2 percent year-on-year increase, reflecting the continued stability of remittance flows from key labor-export markets such as Japan, South Korea, Taiwan, and Southeast Asian countries where many Vietnamese work under long-term contracts.

The second-largest source was the Americas, with over US$3.3 billion, accounting for 31.9 percent of the total. This represented an 11.8 percent rise from 2024, indicating a recovery in income levels among the Vietnamese diaspora in the U.S. and Canada, as well as an increasing trend of money transfers for investment, consumption, and family support in Viet Nam.

Europe contributed US$921.46 million (8.9 percent), a 16 percent increase year-on-year. This improvement reflects better economic conditions for Vietnamese living in EU countries, particularly those engaged in services, skilled labor, and small businesses.

Remittances from Oceania totaled US$893.62 million, making up 8.6 percent of the total and showing a 15.1 percent increase compared to 2024. This robust growth reflects the steady transfer habits of the long-settled Vietnamese community in the region.

Though still modest in size, Africa recorded the highest growth rate among all regions. Remittances from African countries totaled US$173.35 million, or 1.7 percent of the total, but surged 39.3 percen year-on-year. This sharp increase highlights the expanding presence of Vietnamese workers and entrepreneurs across the continent in recent years.

The outcomes showed that remittance inflows to Ho Chi Minh City have continued to maintain sustainable growth momentum, despite ongoing fluctuations in the global economic and political landscape, while also reaffirming the city's role as the largest recipient of remittances nationwide.

Remittances are an important and stable source of foreign currency for Viet Nam, and Ho Chi Minh City consistently accounts for the largest share nationwide. These inflows not only reflect the size and dynamism of the Vietnamese overseas community, but also demonstrate the high level of trust placed in the city's economic prospects, business environment and financial system.

Looking ahead, the significance of remittances to Ho Chi Minh City is expected to grow further, particularly as the city pursues its ambition to become an international financial center and a regional hub for innovation. Policies that encourage productive use of remittances—such as investment incentives, support for start-ups, and improved financial literacy—could help maximize their long-term development impact./.