The Canada-Vietnam Remittance Corridor

In contrast to the large size and advanced level of development of the U.S.-Mexico remittances corridor, the Canada-Vietnam corridor is small in absolute terms and still at a nascent stage of shifting from informal to formal systems. For purposes of discussion, this book breaks down the remittance process into three stages: the First Mile, when decisions are in the hands of the remittance sender; the Intermediary Stage, comprising the systems that facilitate the cross-border transfer of funds, and; the Last Mile, where the funds reach the hands of the remittance recipient. By analyzing the objectives, obstacles, incentives, and changes occurring at each of these stages in the Canada-Vietnam corridor, lessons are drawn for other remittance sending and receiving countries that seek to encourage formalization of the flows.