Overseas Vietnamese invest nearly 2 billion USD in HCM City

More than 3,000 overseas Vietnamese had invested 45 trillion VND (1.94 billion USD) as of the end of last year in HCM City, an official said at a recent meeting in the city.

01, Mar. 2020

Photo by Alexander Mils on Unsplash
Photo by Alexander Mils on Unsplash

HO CHI MINH CITY, VNS/VNA - More than 3,000 overseas Vietnamese had invested 45 trillion VND (1.94 billion USD) as of the end of last year in HCM City, an official said at a recent meeting in the city.

Vo Thanh Chat, Vice Chairman of the HCM City Overseas Vietnamese Committee, said that overseas Vietnamese had been making great contributions to the city’s socio-economic development over the years.

The city last year received remittances worth over 5.6 billion USD, accounting for 30 percent of the country’s remittances, according to the committee. Most of the remittances were used for business and production purposes, according to the committee.

Last year the committee launched many activities to boost investment and trade with overseas Vietnamese, he said.

Many challenges related to investment were promptly addressed to safeguard their rights, and conferences and meetings were organised to inform them about policies related to investment, business procedures, and immigration, he added.

The committee has asked overseas Vietnamese to continue to invest in science, technology, culture and education. It has urged the city to organise events on building HCM City into a regional financial centre.

The committee plans to work with agencies to continue organising exchanges and seminars, and to listen to opinions of overseas Vietnamese on socio-economic development.

At the meeting, Chat presented the Certificates of Merit to individuals who have made outstanding achievements in projects related to overseas Vietnamese in 2019.

More than 400 expatriates have returned to work in Vietnam for long periods, while 200 professionals have cooperated with universities, high-tech zones and hospitals in their projects.

Last year, overseas Vietnamese set up as many as 34 enterprises, with charter capital of 122 billion VND (5.3 million USD).

Every year, more than 30,000 young overseas Vietnamese visit Vietnam for business opportunities, especially in start-up projects. - VNA