Overseas Vietnamese invest nearly USD1.94B in HCM City

HCM CITY (Viet Nam News/ANN) – More than 3,000 overseas Vietnamese had invested USD1.94 billion as of the end of last year in HCM City, an official said at a meeting yesterday in the city.

Vice Chairman of the HCM City Overseas Vietnamese Committee Vo Thanh Chat 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 USD5.6 billion, accounting for 30 per cent 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, vice chairman of the committee, presented 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 VND122 billion (USD5.3 million).