Overseas Vietnamese entrepreneurs play important role in HCMC’s growth

The Ho Chi Minh City's Committee for Overseas Vietnamese Affairs has just held a conference to connect overseas entrepreneurs and city businesses with the participation of more than 40 outstanding overseas businessmen and domestic enterprises who have cooperated, invested and done business in the city.
An overview of the conference
At the current time, over 5.3 million Vietnamese people are living and working in 130 countries and territories in the world. Among them, 80 percent of overseas Vietnamese are living in developed countries with around two million people originating from Ho Chi Minh City or having contacts with the city including around 600,000 entrepreneurs, intellectuals and highly qualified experts.

Over 3,000 enterprises in HCMC are invested by overseas Vietnamese with a total capital of more than VND45 triillion (nearly US$1.9 billion), attracting over 400 overseas intellectuals working for a long time and nearly 200 ones participating in studying, investing and being the bridge of international relations, contributing to building and developing the city.

The whole country received over US$10 billion of remittances on average annually. Of which, Ho Chi Minh City accounted for more than 50 percent which was considered as a huge capital source for the socio-economic development of the country and the city. Besides, Vietnam is on the top ten countries receiving huge remittances.

At the conference, the delegates said that the city and the whole country is on the recovery and socio-economic development process after the Covid-19 pandemic.

Therefore, it is important to have connection and resonance strength between local and overseas Vietnamese enterprises to build internal resources for Vietnamese enterprises and contribute more to the country. Besides, the delegates shared difficulties and obstacles in their business and export activities after the Covid-19 pandemic, particularly difficulties in capital and product output.

Deputy Head of the HCMC’s Committee for Overseas Vietnamese Affairs Tran Duc Hien speaks at the conference.
Deputy Head of the HCMC’s Committee for Overseas Vietnamese Affairs Tran Duc Hien informed that Vietnamese entrepreneurs in general and overseas Vietnamese in particular have always taken efforts to overcome difficulties and contribute to the country’s growth, especially during the two-year huge influence of the Covid-19 pandemic.

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