Despite the Covid-19 pandemic’s major impacts on the global economy over the last two years and growing inflation in many countries, remittance flows into Vietnam remained relatively stable compared to previous years, the report noted.

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Total remittances to Vietnam increased by nearly 5% in 2022 and may go up 3.6 - 4.5% in the following years after growing 5% in 2021, according to statistics of WB and KNOMAD.

Last year, the value rose about 1 billion USD to approximate 19 billion USD, making the country one of the three biggest recipients in the Asia-Pacific and among the top 10 globally in terms of remittances.

Some banks perceived that the growing remittance inflows will help them not only gain more profits from services but also boost foreign exchange reserves, serving Vietnam’s foreign currency attraction policy.

Among remittance sources, the US houses the largest number of Vietnamese immigrants, followed by the UK, Australia, and Canada. Meanwhile, Japan, the Republic of Korea, and Taiwan (China) post the most number of workers from Vietnam.

Party chief urges utilising opportunities for socio-economic development

All opportunities should be optimised to successfully achieve the socio-economic targets set for 2023 and the 2021-2026 tenure, Party General Secretary Nguyen Phu Trong said at a teleconference on January 3.

Vietnam records best-ever performance in digital economic development

Vietnam is viewed as a country with high potential for fast digital economic development and digital transformation trend across all fields.

Breakthrough industry drives economic growth

(BGO) – In 2022, the industrial production in the northern province of Bac Giang maintained strong rebound with important role in the provincial Gross Regional Domestic Product (GRDP). The index of industrial production (IIP) gained impressive growth and highest ever value of over 30 percent.

Big economic growth fueled by expansion of production and trade

Strong recovery in local production and trade activities is projected to continue to fuel the Vietnamese economy, after it harvested quite positive growth in 2022, with an expected position of top in Southeast Asian region in economic performance for the new year.

OCOP program creates driving force for rural economic development

(BGO) - The provincial People's Committee issued a Decision on approving the implementation of the "One Commune One Product (OCOP) Program" in Bac Giang province for the 2018-2020 period, with a vision to 2030. The decision was to realise the Prime Minister's Decision, dated June 29, 2018, on approving the "One Commune One Product Program" for the 2018-2020 period. 

Source: VNA