The amount of overseas remittances, or ‘kieu hoi’ as called by Vietnamese, continues to increase, which shows that people see great business opportunities in the country.
The World Bank estimated that kieu hoi may reach $16.7 billion in 2019, an increase of 4.6 percent compared with 2018. This was the third consecutive year that Vietnam was ranked among the top 10 kieu hoi recepients.
|The amount of overseas remittances, or ‘kieu hoi’ as called by Vietnamese, continues to increase, which shows that people see great business opportunities in the country.|
The wave of young Viet Kieu returning to Vietnam to make investments and develop startups has also helped increase kieu hoi.
With the market warming up at the end of last year, the number of real estate deals has also been on the rise thanks to soaring remittances.
As global remittances hit record highs, a new report by UniTeller of low-income adults in Vietnam reveals the value of monthly remittances from family and friends working abroad now averages ten times of the monthly incomes of recipients.
- Vietnam economy remains resilient despite external shocks: ADB
- U.S. says will not send high-level officials to China's Silk Road summit
- Men with high levels of testosterone 'could be almost a FIFTH more likely to develop prostate cancer'
- The Latest: Trump cites high-level talks between US, NKorea
- PM confident Vietnam will achieve most of SDGs by 2030
- Vietnam economy walks a tight rope in face of rising challenges
- Despite record drop, consumer index still at high level
- Summer Time All the Time hosted by The Overseas Property Show is coming to Birmingham!
- UK employers' confidence in economy slides before Brexit
- Indonesia to hold high-level dialogue on Indo-Pacific Cooperation