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Remittance flows into Viet Nam approximated $19 billion in 2022. — Photo baotintuc.vn Viet Nam remains one of the 10 countries receiving the most remittances in the world, according to the recent Migration and Development Brief by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD). Despite the COVID-19 pandemic’s major impacts on the global economy over the last two years and growing inflation in many countries, remittance flows into Viet Nam remained relatively stable compared to previous years, the report noted. Total remittances to Viet Nam increased by nearly 5 per cent in 2022 and may go up 3.6-4.5 per cent in the following years after growing 5 per cent in 2021, according to statistics of WB and KNOMAD. Last year, the value rose about US$1 billion to approximate $19 billion, making the country one of the three biggest recipients in the Asia-Pacific and among the top 10 globally in terms of remittances. Some banks perceived that … [Read more...] about Viet Nam among world’s 10 biggest recipients of remittances

Decreasing demand for apartments in the region is also forecast to continue through at least the middle of the year. But it may begin to gradually rise by the last quarter of 2023 as legal bottlenecks and obstacles to credit are slated to be at least partially removed by the government, according to DKRA real estate consultants. DKRA Vietnam deputy R&D director Vo Hong Thang said apartment market liquidity, this year, would concentrate in affordable housing projects with prices of below VND50 million ($2,118) per square meter in HCMC and less than VND35 million per square meter in Binh Duong. Such social housing projects promise to be a ray of light in the otherwise gloomy 2023 market, he said, while adding the caveat that supply would still be limited. According to Thang, businesses are gradually supplying fewer high-priced homes and more affordable apartments and social housing units this year. He said this trend may last until 2025, with new supply focusing on the city’s … [Read more...] about Apartment market to continue slumping this year

My son is doing well. He and his wife have stable incomes, they get along well, and have a son together. My daughter is not doing so well. She and her husband rent a home near ours, but they are struggling. Last year, her husband informed us that he was VND200 million ($8,533) in debt because his business was not doing well. He also owes my son VND30 million and owes my younger brother VND40 million. He sold his family’s land in the countryside to pay the debt, but could only pay VND100 million because market prices are low. He asked me to borrow money from my relatives on his behalf. I asked my daughter what kind of business her husband was doing that led to this situation. It turns out that he borrowed money online to gamble. I feel sorry for my daughter since she married a terrible husband. She does not want to divorce him because she wants her kids to have both a mom and dad. My daughter is now on maternity leave. Her husband only gives her VND2 million a month to pay for … [Read more...] about I am disappointed in my daughter-in-law