In the East Asian and Pacific region, Vietnam ranked third after China and the Philippines.

Vietnam is expected to receive US$16.7 billion in overseas remittances this year, placing it among the 10 countries receiving the most remittances in the world, according to the Nguoi Lao Dong website.

 Vietnamese deposits overseas, which were previously negligible, skyrocketed to hit 7.3 billion USD as of the third quarter of 2015, it was reported at a conference in Hanoi on April 12.

The State Bank of Vietnam (SBV) has issued strict regulations on the establishment and operation of remittance companies under commercial banks in order to better manage money transfer services.

Nguyen Hoang Minh, deputy director of the Ho Chi Minh City branch of the State Bank of Vietnam, shares with VIR’s ThuyVinh the city’s inward remittance picture during January-May and its growth perspective in 2015.

 VietNamNet Bridge – Remittance inflows into Vietnam are expected to continue increasing this year, as overseas Vietnamese look to put their savings to work.

 VietNamNet Bridge – Overseas Vietnamese now tend to remit money to their relatives in Vietnam through unofficial services rather than via banks.

The Japanese police have announced that they have caught a criminal ring which has been remitting money illegally to Vietnam. However, this is just one of a number of rings existing in the country, in which there are many Vietnamese workers.

 PM: Restructuring of SOEs key political task; Over 400 SOEs to be equitised by 2015; Vietnamese abroad encouraged to remit money home; HCM City IPs eye US$550 million in investment; Vietnam among top world’s gold consumers

 HCM City’s 2011-2013 remittance nears US$14 billion; Lazada announces strong investment in e-commerce; Fuel imports keep falling on lower demand, Seasonal labor demand for Tet drops sharply

Traders overstock foods due to typhoon Haiyan; HCM City impatient with resettlement housing projects; Expert: Home loan rate of 3% impossible; POS transactions increase

HAGL to earn living from rubber, sugarcane; Nha Trang eyes new five-star hotel; Low-cost homes seen as lifeline for troubled developers; Saigon Port to be equitized in 2014

VietNamNet Bridge - The amount of foreign currency sent to Vietnam by overseas Vietnamese last year reached more than $10 billion, said Foreign Minister Pham Binh Minh on February 17.

 VietNamNet Bridge – Around 600 overseas Vietnamese, known as Viet Kieu, will join a meeting with HCMC leaders at the end of this year to get an insight into the city’s socioeconomic situation and development orientation in the future.

Rice exports hit a record high; Rare earth processing plant built in Quang Ninh; HCM City’s GDP soars by 9.3 pct; New ruling fails to rouse gold market; Tightening fruit and vegetable imports; EVN to issue bonds to repay debts