A new decree to foster innovation within Vietnam’s banking and financial services, some developments with US trade negotiations, European sanctions against several Vietnamese companies trading with Russia – it has been a busy month for Vietnam.
Policy & Regulatory Developments
Effective from 1st July Decree No. 94/2025/ND-CP (or Decree 94) establishes a ‘Regulatory Sandbox’ for Fintech development in banking. Fintech companies that are legally established within Vietnam, credit institutions not under any special controls, and foreign banks can pilot new products for up to two years within this environment, subject to the supervision of the State Bank of Vietnam. This is all with the aim to drive innovation within Vietnam’s financial sector, widen financial inclusion and, in a relatively safe and insulated environment, map out the risks and benefits of new Fintech solutions. Such solutions include credit scoring, the sharing of data via APIs between banks and third-parties (with cus...
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