Nguyen Duc Lenh, deputy director of the branch, said the city always has favourable policy incentives that attract remittances, including tax and fee exemptions for recipients, and the availability of increasingly convenient methods for money transfer.

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Besides, in the six first months of this year, domestic exchange rate and inflation remained stable in the context that many countries are still facing high inflation rates which significantly contributed to attracting the flows of the money to the country.

The amount of remittances from Asia and Africa has grown significantly over the same period last year, in which the money sent from Asia accounted for the highest proportion in the country, reaching 47% of the total to the city, up 14.4% compared to the previous quarter.

In order to continue to attract and maximise the utilisation of remittances, the city is developing a strategy to attract and promote resources in the city, striving to achieve a growth rate of the money transferred to the city of least 10% per year in the period until 2030.

According to a report by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD), Vietnam was among the top 10 countries receiving remittances in 2022.

Remittances to Vietnam increased by nearly 5% to 19 billion USD last year and are expected to rise by 3.6-4.5% this year.

New golf course and urban area in Nham Bien Mountain approved investment policy

(BGO)- The provincial People’s Committee of Bac Giang province has issued the Decision on approving the investment policy of the golf course and urban residential area project in Nham Bien Mountain, Dong Son commune, Bac Giang city and Tien Phong commune, Yen Dung district.

Enterprises need more investment to master technology

The policy of the Party and State is to accelerate the transformation of the growth model based on the application of science, technology and innovation, to improve the productivity, quality and competitiveness of the economy. Many enterprises identify innovation as the driving force and the optimal solution, to enhance competitiveness in the context of increasingly extensive and comprehensive international economic integration.

LG Innotek Vietnam Hai Phong raises investment by 1 billion USD

The People's Committee of northern Hai Phong city held a conference on June 26 to present a certificate to LG Innotek approving its additional capital of 1 billion USD from 2023-2025, raising the company's total investment to over 2 billion USD.

More work needed to improve administrative procedures on investment

Improvements in the group of investment administrative procedures are still slow and not yet in sync with policies to attract investment at the local level.

Buidl Vietnam 2023 opens up investment opportunities

Buidl Vietnam 2023, the country's leading community festival for web3 builders and founders, is underway in Ho Chi Minh City, aiming to foster a healthy and sustainable blockchain community, introduce and connect capable developers to the blockchain ecosystem in Vietnam.

Source: VNA