The innovative Vietnamese digital bank Cake by VPBank has won the Asian Banking & Finance Awards for the Best Core Banking System Initiative – Vietnam at the ABF Retail Banking Awards 2022.

The State Bank of Vietnam (SBV) will give flexible and suitable management to guide credit resources to business and production activities and create favourable conditions for workers and low-income earners to access capital for house purchase, Governor Nguyen Thi Hong said on August 1.

Vietnam needs to develop a strong domestic banking and financial sector that can provide a guaranteed funding base for decarbonising the oil economy, Kanni Wignaraja, UN Assistant Secretary-General and UNDP Regional Director for Asia and the Pacific, told the Vietnam News Agency (VNA) on July 29.

Vietnam is creating favourable conditions for the birth of Asia’s next tech start-up unicorns, according to the Asian Development Bank (ADB) July 2022 report entitled “Vietnam’s Ecosystem for Technology Startups”.

The digital transformation day of the banking sector will be held on August 3, the State Bank of Vietnam (SBV) announced at a press conference in Hanoi on July 28.

VTB Bank, a Russian majority state-owned bank servicing the country’s foreign trade operations, launched money transfers to Vietnam in Vietnamese dong from July 27.

The Vietnam Internet Network Information Centre (VNNIC)’s automatic monitoring system has so far detected more than 450 domain names, including 357 international ones, with signs of violation related to e-commerce and banking.

Remittances to Ho Chi Minh City totalled US$3.16 billion in the first half of 2022, down 13% from the same period last year, according to the State Bank of Vietnam (SBV) branch in the southern city.

Standard Chartered has forecast Vietnam’s GDP growth at 10.8% in the third quarter and 3.9% in the last quarter of 2022, contributing to annual expansion of 6.7%.

The Ministry of Planning and Investment and the World Bank (WB) in Vietnam jointly held a conference in Hanoi on July 26 to gather opinions from international organisations and consultants on the draft national master planning for the 2021-2030 period with a vision to 2050.