Việt Nam received $190 billion in remittances in past 30 years, among world’s top 10

Deputy foreign minister Lê Thị Thu Hằng speaks at the press conference on Monday. —Photo baotintuc.vn

HÀ NỘI — With approximately six million Vietnamese nationals living abroad, remittances sent to Việt Nam from 1993 to 2022 have amounted to US$190 billion, according to deputy foreign minister Lê Thị Thu Hằng.

Speaking at a press conference for the 2024 “Xuân quê hương” (Homeland Spring) programme on Monday, she said that this figure is almost equal to the amount of foreign investment capital disbursed in the same period. 

In 2023, the World Bank estimated that Việt Nam received approximately $14 billion in remittances, while this figure reached a record number of $19 billion in 2022.

Việt Nam has been among the global top 10 recipients of remittances for many years, with overseas Vietnamese residing in more than 130 countries and territories, and around 600,000 of them with an undergraduate or higher degree. 

More than 80 per cent of overseas Vietnamese are living in industrial and developed countries and major global economic hubs. 

In HCM City, the amount of remittances topped $9 billion in 2023, an increase of 35 per cent compared to the previous year and equivalent to nearly 50 per cent of the city’s total budget revenue. 

This figure is also nearly three times the total foreign investment capital the city received. 

However, deputy foreign minister Hằng emphasised that the focus is to promote intellectual and human resources for the country’s development. 

Statistics showed that the number of overseas Vietnamese intellectuals and experts engaging in science-technology activities in Việt Nam ranges from 300 to 500 people per year. 

Võ Văn Hoan, vice chairman of HCM City People’s Committee said that Việt Nam and particularly HCM City have put forward strategies to attract and mobilise resources from overseas Vietnamese, with the aim of becoming a centre for the semiconductor industry, science-technology and innovation of the region and the world. 

Homeland Spring

Homeland Spring is a large-scale programme held annually by the State Commission for Overseas Vietnamese Affairs which welcomes overseas Vietnamese to celebrate the Tết (Lunar New Year). 

The event is set for February 1-2 this year at the Reunification Hall in HCM City and will be broadcast live on various platforms. 

Last year, Homeland Spring was held in Hà Nội and counted approximately 3,000 participants. 

The programme hopes to promote patriotism and strengthen the ties among overseas Vietnamese as an integral part of the nation, encouraging them to preserve the national identity of culture, traditions and language. 

President Võ Văn Thưởng and high-level officials of the country are expected to be in attendance. — VNS