Photo courtesy of www.galaxythienha.com
From WIRE REPORTS
Remittances and investments by overseas Vietnamese reach
nearly $20 billion a year, contributing significantly to the country’s economic
development, a government official said.
Overseas remittances alone hit $6 billion in the first
half of the year, Deputy Planning and Investment Minister Dao Quang Thu was
quoted by a news website as saying. He added that Vietnamese living abroad have
invested in more than 2,000 projects in the country so far.
“Viet Nam has established diplomatic and economic ties
with almost all countries and territories in the world. Overseas Vietnamese
therefore have many opportunities to return and invest in their home country,”
Thu said.
About 1,000 Vietnamese from around the world gathered in Sai
Gon recently for a conference on overseas Vietnamese, where they expressed
their interest in Viet Nam as an investment destination.
VnExpress cited Robert Chuong from the United States as saying he is
developing an apartment project in the southern province of Ba Ria-Vung Tau and
plans to open a casino in the country.
Chuong, originally from the northern city of Hai Phong,
said one of the main reasons he returned to Viet Nam to do business is the huge
potential of the local market.
There are about 4 million Vietnamese living and working
overseas. Their remittances are a major source of foreign currency in Viet Nam.
Viet Nam received a record $9 billion in overseas
remittances last year, up from more than $8 billion in 2010. It was one of 10
developing countries receiving the most overseas remittances, according to the
World Bank
