Overseas National Currency Exchange is an important source of finance in Vietnam but is not fully utilized. Ranked No. 11 in the world to attract remittances, but according to analysts’ analysis, this resource has not been exploited.
1 / What is Overseas National Currency Exchange?
Overseas National Currency Exchange is remittances from overseas, which have recently given blood to the Vietnamese economy, especially the real estate market.
Overseas National Currency Exchange is the money of the laborers, who reside abroad and transfer to their relatives in their hometowns. The high amount of Overseas National Currency Exchange influences the economic and social development of many countries, especially the developing countries.
2 / Source of Overseas National Currency Exchange seems to “like” property
Overseas National Currency Exchange to Vietnam reached record levels of $13.2 billion by 2015 and HCMC. HCM is always at the top of the remittance rate. According to statistics in the first eight months of 2017, In HCM, the amount of Overseas National Currency Exchange received through the official channels is $3 billion, an increase of $900 million over the same period last year.
Not only the amount of remittances but the purpose of using remittances has also changed. No longer focused on personal consumption, but real estate investment became an attractive destination quickly attracted remittances. Especially since 2016, when the State introduced more open and open policies for foreigners, overseas Vietnamese to buy houses, own houses in Vietnam, a large number of remittances to this market.
At the beginning, almost the amount of remittances is often found to buy a house to stay in Vietnam after returning home or donate to parents and relatives rarely see this source of Overseas National Currency Exchange is used for production activities, trading other real estate investment projects. But thanks to the new policies have the favor for foreigners, overseas Vietnamese that the amount of Overseas National Currency Exchange Property increased sharply.
Widespread policies of the State have boosted the remittances, as well as Property, with a series of large investment projects.
The number of remittances poured into warming property recently. As the “two-way arrow”, property development has become an attractive destination for Overseas National Currency Exchange. Compared to the investment in gold, stock … full of turmoil, property becomes a business opportunity with high profitability.
Increasing economic potential, the opportunity to develop more and more not only bring Overseas National Currency Exchange to the country, but also bring talent back to the service. This is a good point. However, the state should have more open policies, financial liberalization and further integration so that remittances really become a powerful resource for the country’s economy.
You are reading the article “Overseas National Currency Exchange Property – Investment Resources With Huge Potential” in the section “Real Estate News” on the website: https://realestatevietnam.com.vn/
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