The regulatory sandbox for financial technology (fintech) which is expected to be created this year, coupled with efforts to promote the use of digital financial services, are expected to accelerate the development of fintech in Vietnam.
Vietnam and China co-chaired the 18th East Asia Forum which was held via video conference on December 10 under the theme of “Strengthening the ASEAN Plus Three Cooperation for Economic and Financial Resilience in the face of Emerging Challenges”.
The Techfest Vietnam 2020, which wrapped up on November 29, saw over 120 connections and about 14 million USD worth of investment committed for innovative and startup projects.
Indonesia and Singapore have agreed to enhance economic cooperation, including in digital technology investment, to speed up economic recovery in the two countries which have been impacted by the COVID-19 pandemic.
The State Bank of Vietnam (SBV) urged the banking industry to build an inclusive finance system that serves all members of society in Vietnam in Hanoi on September 10.
The Deputy Governor of the State Bank of Vietnam has asked units to regularly review and assess the implementation outcomes to determine the possibility of fulfilling assigned tasks in order to have suitable solutions, ensuring set goals.
As many as 50 UK businesses joined an online meeting to get updates on socio-economic situation in Vietnam as well as developments in the Vietnam-UK relations, and seek opportunities to cooperate with Vietnamese partners in the future.
Ho Chi Minh City is a promising destination for US partners thanks to its strengths in many fields, Secretary of the city’s Party Committee Nguyen Thien Nhan told the opening of the Ho Chi Minh City-US Business Summit held online on August 25.
The value of electronic money transactions in the Philippines surged by 36.2 percent to 1.48 trillion peso (over 29.5 billion USD) in 2019 from 1.09 trillion peso in 2018.
The digital and platform economies would become pillars of our future society, said Nguyen Duc Thanh, former director of the Institute for Economic and Policy Research (VEPR).
While non-cash payments are admittedly on the rise, the cash payment habit and limited development of technology infrastructure are big problems for the country’s non-cash economy, experts have said.
Vietnamese financial technology startups are quickly catching up with Singapore in attracting Southeast Asian venture capital funding, according to the Japan-based Nikkei Asian Review.
A Vietnamese delegation, led by Nguyen Toan Thang, General Secretary of the Vietnam Banking Association, is attending the 22nd ASEAN Banking Conference that kicked off in the Cambodian capital city of Phnom Penh on November 25.
To attract foreign investors to the Thai capital market, the Securities and Exchange Commission (SEC) has arranged for four financial technology (fintech) companies in Thailand to display their products and services at the Singapore FinTech Festival (SFF) 2019.
Digital transformation would push Vietnam’s finance-banking system in the years to come, helping it catch up with global standards, said Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Kim Anh.
Opportunities will slip through Vietnamese firms’ hands if a sandbox is not developed soon, NextTech chairman Nguyen Hoa Binh said at a conference on November 7.
Business
XIII National Congress of Communist Party of Vietnam
