The State Bank of Vietnam (SBV) has warned local people and firms to consider carefully and be cautious before taking part in peer-to-peer (P2P) lending as there are many potential risks related to the service.
Hanoi (VNS/VNA) - The State Bank ofVietnam (SBV) has warned local people and firms to consider carefully and becautious before taking part in peer-to-peer (P2P) lending as there are manypotential risks related to the service.
According to the SBV, the fourth industrial revolution has promoted thedevelopment of many new products and services, including P2P lending, which isdesigned and developed on the basis of digital technology to directly connectborrowers with lenders (investors) without going through financial intermediariessuch as credit institutions or foreign bank branches.
The development of P2P lending has created a new capital supplychannel in the global market and contributed to promoting financial inclusion,but it also has many potential risks that have been experienced all over theworld.
This form of lending is fertile ground for high-tech crimes and fraud, such astax evasion, money laundering, terrorist financing and theft of personalinformation.
In Vietnam, there have recently appeared several serviceproviders with similar models to P2P lending companies. But, operations of suchcompanies have some shortcomings. For example, they make false advertisementsabout profits, or provide inaccurate information related to risks whenparticipating in the service.
Some lenders also lendat very high interest rates, far exceeding the interest rate cap of 20 percentper year legally allowed by the country.
"If a dispute arises due to the failureto claim loans, lenders may lose money as it makes it difficult to claimresponsibility from P2P lending platform providers," the SBV warned.
According to the central bank, lending also may causesocio-economic instability due to borrower defaults, causing long-term andheavy consequences that many countries around the world have experienced. Chinahad to eliminate some 160 online lending companies as they were in facthigh-tech criminals working to cheat investors.
The SBV said that it was carefully studying international models ofP2P lending to develop a legal framework to effectively manage the country’snascent fintech sector.
"A legal framework can bring out the positive aspects of this service,while preventing and minimising the risks and ensuring safety for individualsand enterprises, thereby enhancing financial inclusion in Vietnam,"SBV Deputy Governor Nguyen Kim Anh said.-VNS/VNA
According to the General Statistics Office, as of September 20, the banking sector’s credit growth was 9.52 percent, much lower than the 11.02 percent rate recorded a year earlier.
Authorities need to closely control the rapid increase in Vietnam’s credit-to-GDP gap so as not to cause high inflation as in the past, experts have warned.
Struggling to attract domestic funds, banks are rushing to seek foreign capital ahead of the central bank’s tightened policy on medium- and long-term lending early next year.
The State Bank of Vietnam (SBV) has made an official request for all payment service providers to facilitate visually impaired people as well as others with disabilities when they want to open a bank account and get a bank card.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
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.
Illustrative image (Photo: VNA) 
