Vietnam’s Remittance Policy in the 1970s–1980s

Abstract

Remittances play a very important role in the economic development of many countries around the world, especially developing ones. In Vietnam, during the period from the late 1970s to the late 1980s, under the impact of profound political, economic, and social changes both domestically and internationally, the State promulgated a number of policies to strictly manage the inflow of remittances. This article explains the reasons that led to the tightening of remittance policy during this period and points out that, although the State applied strict control measures, remittances continued to flow into Vietnam through diverse channels, particularly via “underground banks” and in the form of goods or gifts.