Remittances to Ho Chi Minh City almost triple FDI attraction

Ho Chi Minh City brought in an estimated US$9 billion in remittances and attracted $3.4 billion in foreign direct investment (FDI) this year, according to the city’s vice-chairman Vo Van Hoan. His speech focused on how to transform Ho Chi Minh City into an international financial center. Hoan cited a Global Financial Center Index as saying that Ho Chi Minh City has remained the only Vietnamese locality recognized as a secondary financial center since March 2020. In 2023, Ho Chi Minh City beefed up economic diplomacy in an attempt to revive its socio-economic development post-pandemic. These efforts are geared toward supporting the development of an international financial center in the city.