REMITTANCES TO HCMC TOP US$10 BILLION IN 2025

Remittance inflows to HCMC continue to grow steadily - PHOTO: ARCHIVES

HCMC – Remittance inflows to HCMC exceeded US$10 billion in 2025, highlighting the city’s continued role as Vietnam’s largest recipient of overseas funds.

According to the State Bank of Vietnam’s (SBV) Region 2 Branch, total incoming remittances to the city amounted to more than US$10.34 billion last year, up 8.3% from 2024.

Most remittances were channeled through economic organizations, totaling nearly US$7.43 billion, or 71.8% of the total. Transfers via credit institutions accounted for the remainder, at about US$2.92 billion.

Asia remained the largest source of remittances, contributing nearly US$5.06 billion, equivalent to 48.9% of the total. Inflows from the region rose 3.2% year-on-year. Key markets included Japan, South Korea, Taiwan, and several Southeast Asian countries, where large numbers of Vietnamese nationals work on long-term contracts.

Tran Thi Ngoc Lien, deputy director of the SBV’s Region 2 Branch, said growth from Asia was slower than in other regions but remained the backbone of remittance inflows due to its scale and stability.

The Americas ranked second, with remittances exceeding US$3.3 billion, or 31.9% of the total. Inflows from the region rose 11.8%, reflecting income recovery among Vietnamese communities in the U.S. and Canada, as well as increased transfers for investment, consumption, and family support.

Other regions also posted solid growth. Remittances from Europe reached US$921.4 million, up 16%, while Oceania contributed US$893.62 million, an increase of 15.1%.

Although smaller in scale, Africa recorded the fastest growth, with remittances rising 39.3% to US$173.35 million. The increase reflects the expanding presence of Vietnamese workers and business activities in the region.

Overall, Asia and the Americas continued to dominate the remittance structure, together accounting for more than 80% of total inflows, while other markets contributed to greater diversification, Lien said.

HCMC remained Vietnam’s largest remittance destination in 2025. In Dong Nai Province, remittances transferred through credit institutions totaled more than US$181 million during the year.

Source: The Saigon Times