A client using an e-wallet via his smartphone. (Photo: vnexpress.net)
Hanoi (VNS/VNA) - The State Bank of Vietnam (SBV) has been developing asandbox for fintech banking and gathering feedback on a draft regulating thesector.
The SBV said the rapid development of fintech posed many challenges tofinancial authorities worldwide as they have to fight illegal financialactivities on a new front.
Numerous fields, notably peer-to-peer lending and data sharing via theapplication programming interfaces, are emerging without adequate legalframeworks established, putting stakeholders at risk.
“Most of these fields have not been fully regulated, posing new risks tohealthy competition, financial stability, data security and client interests,” saidthe SBV.
Accordingly, the central bank has to develop a controlled testing mechanism toget first-hand experience in managing the sector and allow fintech firms totest their novel products in a regulatory environment.
Notably, the SBV will allow some risks in the sandbox to gain abetter understanding of the dangers, thereby building a full-fledged legalframework that encourages innovation, prevents financial risk and promotesfinancial stability.
Additionally, fintech firms are required to test their products on a limitedscale and under the supervision of the SBV to keep the risks under control.
According to the SBV, the number of fintech firms in Vietnam has increasedfour-fold since 2016.
Around 76 percent of the firms cooperate with banks, 14 percent develop theirown products and the rest are bank competitors.
BIDV has partnered with 24 fintech firms and 756 service providers to make over1,500 financial services available to its clients.
MB and Boomerang Technology have cooperated to launch the eMBee fan page,allowing clients to check their bank balances, transfer money, buy insuranceand take out loans by chatting with eMBee on Facebook Messenger.
Almost all Vietnamese banks are now rolling out e-wallets with the help ofMoMo./.
The State Bank of Vietnam (SBV) has continued to be placed at top position for the second consecutive year in the rankings of cyber information security for State agencies by the Authority of Information Security under the Ministry of Information and Communications.
The State Bank of Vietnam (SBV) will enhance inspections to discover illegal finance companies and protect the interests of consumers and licensed finance companies, according to the SBV’s Governor Nguyen Thi Hong.
Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has issued Directive No.01/CT-NHNN on organising the implementation of the key tasks of the banking sector, with a focus on improving credit quality and tightly controlling loans to potentially risky industries.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
A client using an e-wallet via his smartphone. (Photo: vnexpress.net) 
