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Vietnam gov't sees $8.45 bln in remittances in 2011
Overseas remittances to Vietnam this year are expected to rise at least 6 percent to US$8.45 billion from around $8 billion last year, a government report said on Wednesday.
The money sent back by foreigners of Vietnamese origin and Vietnamese people working abroad could rise more if overseas Vietnamese step up their buying of houses in the country or if domestic shares gain in 2011, the report on the government's website (www.chinhphu.vn) said.
Overseas remittances, along with foreign direct investment and official development assistance, are an important source of foreign exchange, helping offset the country's trade deficit.
Remittances last year jumped around 28 percent from 2009, based on the government report.
Vietnam's trade gap could widen to $13.6 billion this year from $12.37 billion in 2010, based on a government forecast that the country's exports and imports would rise 10 percent in 2011.
Last year exports jumped 26 percent to $71.63 billion and imports rose 20.1 percent to $84 billion, government data showed.
International aid donors have pledged assistance of about $7.9 billion this year to help Vietnam's development.
Foreign direct investment is expected to total between $11 billion and $11.5 billion, compared with the $11 billion disbursed in 2010, the government has said.
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