Proud Vietnam as a driving force for migrant remittances

The feeling of pride in being a Vietnamese is also one of the positive factors that have influenced remittance inflows and the growth rate of remittances in recent years.


Here 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 holiday and spring, emotions make each of us remember and love our homeland, love our country more than ever. Proud of our country – proud of Vietnam and if placed in relation to factors affecting remittances, this is a “soft” factor, a driving force and less dependent on the developments of the world’s economic and political situation like other factors, becoming a huge driving force, contributing to the growth of remittances through the years, with the pride of contributing to the construction of our wealthy and beautiful country.

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 renovation, overcoming many difficulties and challenges, and affirming Vietnam’s brand positioning in the international arena. In terms of socio-economic development, this factor has become a great resource for national development, expanding economic, commercial, service, and tourism cooperation in the context of deep and wide international economic integration as at present. At the same time, this pride awakens the love for the country and the memory of the roots of every Vietnamese people in general and overseas Vietnamese, Vietnamese living, working, and studying abroad in particular, becoming a driving force for dedication to the motherland. This is a great resource for investment, production and business development, education, culture, and tourism. In which, there is an annual remittance inflow.

Proud of a stable economic and social environment, security, and safety, and a favorable investment environment. Accordingly, the Party’s policy direction, the State and the policy mechanism of the Government; SBV always creates the best and most favorable conditions to attract foreign investment into Vietnam, attracting financial resources, and knowledge of overseas Vietnamese, Viet kieu, working, and living abroad to contribute to the development of the country. In which, the remittances, the income, and accumulation of overseas Vietnamese, foreign workers sent back have significance for the development of production-business-commerce, service, and improvement of people’s lives, as well as promoting the SBV’s monetary policy effectively and developing banking services.

Proud to be Vietnamese, intelligent, creative, and diligent, with a tradition of solidarity; loving our homeland, our country leaves not only impressions on peoples around the world but also becomes a driving force and desire for development so that every Vietnamese person wherever they are always look towards the motherland, hometown, and have the motivation to develop themselves and enrich the homeland with various forms of contributions, dedication: from material, spiritual to knowledge, culture, and inspiration. This pride itself is also a positive factor affecting the remittance flow and the growth rate of remittances in recent years. At the same time, this pride “I am Vietnamese” has created brands, credibility, and quality of Vietnamese human resources abroad, creating the development of the labor market, the growth of labor resources working abroad, thereby promoting the growth of remittances from this sector. As a result, the remittance structure analyzed by region, geography, and continent has changed in line with the development of the labor market and employment.

When spring comes, happiness, joy, and the pride of Vietnam will be the driving force to promote development, the driving force for the banks of Ho Chi Minh City to continue to fulfill their assigned tasks, in which commercial banks continue to provide the best remittance payment services to contribute to the specific implementation of this driving force into action programs, and the 2023 remittance results transferred to Ho Chi Minh City are a good start for the new year 2024.

Han Dong

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