Vietnam receives $190B in remittances over 30 years

There are now 6 million Vietnamese living overseas and the number increases by 5% annually, according to a forum on overseas Vietnamese hosted by the Ministry of Foreign Affairs on Wednesday.

They live in 130 countries and territories, with 80% of them in developed countries.

Last year remittances rose 5% to a new record of $19 billion, making Vietnam among the top 10 countries globally in remittances.

The World Bank has forecast that Vietnam will receive $14 billion in remittances this year and $14.4 billion next year.

Remittances increase the supply of foreign currency and help authorities regulate the currency exchange market. Remittances are even more important when strong currencies fluctuate.

By the end of last year, Vietnamese from 35 countries had invested in 385 foreign direct investment projects in Vietnam with a total registered capital of $1.72 billion.