Xinhua, Ho Chi Minh City :Overseas remittances to Vietnam’s southern economic hub Ho Chi Minh (HCM) City hit 3.12 billion U.S. dollars in the first nine months of this year, up 11. 6 percent year on year, according to the State Bank of Vietnam’s HCM City branch Friday.The total value represents an increase of 4.7 percent compared to the end of 2013, Nguyen Hoang Minh, head of the branch told local media.Remittances funneled into production and real estate projects have kept increasing, with 74 percent of the total sum injected into business and 22 percent into the property market.Overseas remittances channeled through HCM City-based banks normally account for 40-50 percent of the country’s total.
