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Home History

Why Vietnam’s National Reconciliation Policy is a Failed Project

Jason Nguyen by Jason Nguyen
29 April 2023
Reading Time: 6 mins read
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In 2022, overseas Vietnamese sent home $19 billion in remittances [1]; the number positioned Vietnam among the top three biggest recipients in the Asia-Pacific region. Ho Chi Minh City is the country’s largest receiver [2] of this financial inflow, accounting for around 40 to 50 percent of the total. Last year, the city expected to receive an estimated $6.8 billion in remittances, a 4.4 percent increase from the previous year.

For comparison, Vietnam’s 19 largest State-owned enterprises (SOEs) earned [3] a pre-tax profit of $3.5 billion in 2022. Although these corporations recorded an increase of 23 percent in profit compared to the previous year, their revenues were only half the amount of the remittances Ho Chi Minh City received. These SOEs account for nearly 25 percent of Vietnam’s state investment capital.

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Tags: April 30PoliticsVietnam War
Jason Nguyen

Jason Nguyen

Nguyen focuses on vulnerable communities: ethnic minorities, LGBTQ+, activists, and Vietnam War refugees, challenging the Vietnamese government's official narratives on social and political issues.

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