Overseas remittances to VN rise again

The World Bank (WB) has estimated that the volume of remittances sent home by overseas Vietnamese will reach nearly 9 billion USD in 2011, slightly higher than the figure last year.

This sum places Vietnam among top ten countries receiving the largest amount of remittances. The others include India, the Philippines, China, Mexico, Pakistan, Bangladesh, Nigeria, Egypt and Lebanon.

According to the WB, Vietnam has seen a considerable increase in the flow of remittances over the past 10 years , from 1.34 billion USD in 2000 to 8.26 billion USD in 2010, and this figure can hit record this year.

The WB said remittances can help address trade deficit and improve the balance of payment if the receiving countries adopt proper policies to mobilise this source for socio-economic development./

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