Overseas Vietnamese a catalyst for success: President Phuc

Speaking at Xuan Que Huong (Homeland Spring), an annual New Year event for overseas Vietnamese, Phuc said that 2022 was a year in which the overseas community helped Vietnamese people unite, share resources, overcome difficulties and achieve great socio-economic achievements.

“The overseas Vietnamese community has helped expand trade and investment cooperation, contributing dozens of billions of dong (VND1 billion = $42,660) to support the fight against the Covid-19 pandemic and help Vietnam overcome the damage of natural disasters, storms and floods,” he said. “The overseas Vietnamese community is also an important catalyst contributing to the success of [Vietnam’s] foreign relations.”

According to the Vietnamese president, through cultural and religious exchange activities, the overseas Vietnamese community has helped preserve the identity and promote the image and cultural values of Vietnam abroad. He said the formation of a network of ambassadors of friendship to the world was part of the great efforts made by Vietnamese across the globe.

President Phuc said that as of October 2022, Vietnam was home to 385 FDI projects launched by Vietnamese from 29 countries and territories around the world, with a total registered capital of more than $1.7 billion.

Foreign remittances sent to Vietnam accounted for about 7% of the country’s GDP last year, he added.

The president said that more than half a million overseas Vietnamese intellectuals were an important source of scientific and creative brainpower. He said they had helped build a startup ecosystem, improve the quality of human resources, develop domestic technology, and had contributed to the development of the country in general. He said it was with the support of this community that Vietnam would realize its target of becoming a developed, high-income country by 2045.

Speaking at the opening of the 2023 Homeland Spring event, Foreign Minister Bui Thanh Son also said that some of Vietnam’s most important achievements were supported by overseas Vietnamese.

“Our overseas compatriots are supportive of others and willing to help shoulder the country’s responsibilities,” Son said.

President Phuc then used the occasion to wish all Vietnamese living far from home, as well as overseas Vietnamese who have returned to their homeland, good health and prosperity in the new year.

Homeland Spring strives to honor the community of about 5.3 million Vietnamese living, studying and working abroad. At the same time, it is also an opportunity for Vietnamese leaders to listen to the thoughts and aspirations of overseas Vietnamese around the world, as well as a platform to honor groups and individuals who have made great contributions to the country.