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Ho Chi Minh City People’s Committee Chairman Nguyen Thanh Phong affirmed overseas Vietnamese as bridge connecting Vietnam and the world. Photo: Overseas Vietnamese Committee of Ho Chi Minh city

“Despite the unstable economic and political situation in the world, Vietnamese people living abroad face many difficulties, they still try to overcome and return to contribute to their homeland”, Phong said at the reception of overseas Vietnamese on January 13 on the occasion of Tet Canh Ty.

At the ceremony, Chairman Nguyen Thanh Phong briefed overseas Vietnamese on some achievements of Ho Chi Minh city in 2019, such as: budget collection exceeding 2.8% of the target; FDI reaching US$8.3 billion, total social investment estimated at 35%.

Phong affirmed that these achievements are inseparable with great contributions of more than 400 overseas experts and intellectuals who are directly cooperating with universities, high-tech parks and hospitals in Ho Chi Minh city.

Nearly 3,000 companies owned by overseas Vietnamese have been granted business registration licenses, with chartered capital of over VND45 trillion. Each year more than 30,000 young overseas Vietnamese visit their hometowns and find business opportunities with start-up projects, according to Phong.

By the end of 2019, remittance to Vietnam reached US$16.7 billion, accounting for 6.4 of the country’s GDP, making Vietnam the ninth largest remittance receiver – in dollar terms – in the world. Remittance to Ho Chi Minh city alone reached approximate US$5.6 billion.