Overseas Vietnamese invest more in Homeland
Ha Noi, Jan. 14 (VNA) -- Overseas Vietnamese investment in their homeland increased 10 percent in 2002.
Their investment has gone to 610 projects with a total capital of more than 500 million USD.
Ho Chi Minh City Farming Company Director Pham Huu Hat revealed that many areas as large as hundreds of hectares in southern Binh Duong and Dong Nai provinces have become shrimp and wild animal breeding farms.
Their businesses have helped boost import-export activities between Viet Nam and Russia and Eastern Europe.
In 2002 overseas Vietnamese remitted over 2.1 billion USD to the country, a 14 percent year-on-year increase, according to the State Bank of Viet Nam (SBV).
The increase in overseas Vietnamese's remittance was mainly attributed to the State policy to attract foreign currencies, including permission to allow more businesses to provide money transfer services, Payees can receive foreign currency without paying income tax. Additionally, the Government's policy to allow overseas Vietnamese to purchase housing and land use rights also contribute to the increase of remittance.
Also in 2002, overseas Vietnamese gave 300 million VND (20,000 USD) to support the Fund for the Poor and a number of humanitarian projects in Viet Nam.
