Remittance, along with foreign direct and indirect investment and official development assistance, is a major source of Vietnam’s foreign currency supply.

An ADB research indicates that the global economy could lose more than US$100 billion in remittances. Governments need to act fast to protect the most vulnerable in society from this loss of vital income.

Vietnam receives total US$19 billion worth of remittances in 2022, up 5.5% on-year.

Read the Hanoi Times to keep up with the latest developments in the country.