Proud Vietnam: A Driving Force for Attracting Remittances

Being proud of being Vietnamese is also one of the positive factors influencing remittance flows and its growth rate in recent years.

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This is the evaluation of Mr. Nguyen Duc Lanh – Deputy Director of the State Bank of Vietnam (SBV) Ho Chi Minh City branch.

Mr. Lanh expresses that on every occasion of Tet and the coming of spring, the emotions make each of us remember and love our homeland, our country more than ever. Proud of our country – proud of Vietnam and if placed in connection with factors affecting remittances, this is a “soft” factor, a motivating factor and less dependent on the developments of the world economic and political situation like other factors, becoming a major driving force, contributing to the growth of remittances year by year, with the pride of contributing to building a rich and beautiful homeland.

Proud of a peaceful and beautiful country with a thousand-year history of nation building and preservation with the achievements of over 35 years of innovation, overcoming many difficulties and challenges, and affirming Vietnam’s position as a brand on the international stage. In the aspect of socio-economic development, this factor becomes a great resource for national development, expanding economic, trade, service, and tourism cooperation in the context of deep and wide economic integration as it is today. At the same time, this pride awakens love for the country and memories of the roots of each Vietnamese people in general and overseas Vietnamese, Vietnamese people living, working and studying abroad in particular, becoming a driving force for dedication to the motherland. This is a great source for investment, development of production, business, education, culture, and tourism. Among them, there is a source of remittances sent back annually.

Proud of a stable socio-economic environment, safety and a favorable investment environment. Accordingly, the policy orientation of the Party, the State, and the policy mechanism of the Government; SBV always create the best and most favorable conditions to attract foreign investment capital into Vietnam, attract financial resources, and intellectuals of overseas Vietnamese who are working, living and investing in contributing to the development of the country. Among them, the remittances, income, and accumulation of overseas Vietnamese and laborers working abroad have meaningful implications for the development of production, business, trade, and service and improving the quality of life of the people, as well as promoting SBV’s monetary policy effectively and promoting the development of banking services.

Proud to be Vietnamese” intelligent, creative, and hardworking, with a tradition of solidarity; love for the homeland and the country leaves not only marks on the nations around the world but also becomes the driving force and aspiration for development so that every Vietnamese person, wherever they are, always look to the motherland, the homeland, and the motivation to develop oneself and make wealth for the homeland, with different forms of contribution and dedication: from material, spiritual to knowledge, culture, and inspiration. It is this pride that has also created the brand, reputation, and quality of the Vietnamese labor force abroad, creating the development of the labor market, the growth of overseas Vietnamese workers, thereby promoting the growth of remittances from this sector. The result is that the structure of remittances analyzed by region, geography, and continent have changed in line with the development of the labor market and employment.

With the arrival of spring, joy, happiness, and pride in Vietnam will be the driving force for development, the motivation for the banking sector of Ho Chi Minh City to continue to fulfill its assigned tasks, in which banks continue to provide the best remittance payment services to contribute concretely to turning this driving force into an action program, and the result of remittances transferred to Ho Chi Minh City in 2023 is a good start for the new year 2024.

Han Dong

SOURCEvietstock
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