The amount of remittances sent to Ho Chi Minh City maintained a positive growth rate in the first 3 months of 2025.

According to Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Region 2 Branch, by the end of March 2025, the total amount of remittances transferred to Ho Chi Minh City reached 2.412 billion USD, equal to 25.3% compared to the whole year of 2024 and increased by 19.6% compared to the previous quarter (quarter IV/2024); in which, the amount of remittances transferred through remittance companies in the quarter reached 1.757 billion USD and through commercial banks reached 655 million USD.

Compared to the same period of previous years, the amount of remittances transferred in the first quarter of 2025 was lower than in the first quarter of 2024, but was still higher than in the first quarter of 2023 and the first quarter of 2022. Specifically, the amount of remittances transferred in the first quarter of 2024 was 2.896 billion USD; in the first quarter of 2023 it was 2.119 billion USD and in the first quarter of 2022 it was 1.775 billion USD.

Notably, although the structure and proportion of remittances by region have changed, remittances from Asia continue to account for the highest proportion, accounting for 48.7% and increasing by 46.1% compared to the previous quarter (quarter IV/2024). This is the highest growth rate compared to other regions.

Analyzing the remittance situation in Ho Chi Minh City, Mr. Nguyen Duc Lenh said that the factors that positively affect the remittance source continue to be promoted and are closely linked to the effectiveness of monetary and foreign exchange policies, a stable investment and business environment, and the development of the labor market.

In addition, remittance companies and commercial banks with good service quality, bringing maximum benefits and convenience to beneficiaries, have also positively impacted the amount of remittances sent to the city in the first 3 months of the year.

According to the State Bank of Vietnam, Region 2 Branch, with the country’s economy in general and Ho Chi Minh City in particular continuing to grow positively; a favorable investment and business environment, the impressive development of tourism, cultural and sports activities associated with the beauty of traditional national culture and activities celebrating major national holidays, will be factors that positively impact the attraction of remittances and the effective use of remittance resources in 2025 and the following years.

In 2024, remittances to Ho Chi Minh City will reach 9.547 billion USD, an increase of 0.9% compared to 2023; in which, Asia and America are the two regions with the highest proportion of remittances, accounting for 82.2% of the total remittances in 2024.

Compared to the same period in 2023, remittances from Asia increased by 2.5%; America increased by 7.4%; Oceania increased by 8.7%. In the opposite direction, remittances from Europe decreased by 23% and Africa decreased by 33% compared to 2023.