The reduction of overseas remittances to the city was due to the complicated context of geopolitics which has affected the markets and business and trade activities in the world and impacted on the income of Vietnamese laborers overseas as well as the accumulated money of Vietnamese overseas.
The World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD) identified that Vietnam ranked eighth in the world and third in the Asia-Pacific region in terms of receiving overseas remittances in 2021.
The flow of overseas remittances to the country is expected to surge around 2.6 percent this year when the lockdown due to the pandemic has been removed in many countries in the world.
