Policies recommendations to manage remittances in the context of the Covid-19 epidemic in Vietnam recently

Abstract

: In the trend of globalization, remittances tend to increase rapidly, especially in developing countries including Vietnam. This is the source of foreign currency sent from abroad to the country through banking system, international express company or directly by people when they come back their home countries. Remittances have positive impacts on the economy and social life, help alleviate poverty, improve physical and mental wellbeing. However, the outbreak of Covid-19 in the world has significantly affected amount of remittances sent home over the past time. The decline in remittances due to the negative impact of the Covid-19 epidemic policy response appropriated to the new context. This study focuses on analyzing the current context of remittance management policies in Vietnam, proposing solutions to improve effectiveness of policies to continue attracting remittances to the country.