With the amount of overseas remittance amounting to over US$10 billion, Viet Nam ranks the 7th position in the world, according to Minister of Foreign Affairs Pham Binh Minh.
FM Minh was quoted as saying that overseas remittance has contributed greatly to economic growth, exchange rate stabilization and foreign reserve and accounted for 60-70% of the total foreign investment in Viet Nam.
According to the State Committee for Overseas Vietnamese, in 2012, overseas remittance went up 10% against 2011 thanks to more convenient transactions.
The remittance inflow chiefly came from over 4 million overseas Vietnamese especially 400,000 guest workers in Japan, the Republic of Korea, Malaysia, Taiwan (China) and the Middle East.
Noticeably, 30% of the overseas remittances were transferred to the banking system, up 16% against 2011./.