Ho Chi Minh City is witnessing a structural shift in foreign direct investment (FDI), marked by the emergence of billion-dollar projects in data centres, digital infrastructure and financial technology.

A wide range of activities to promote financial technology (Fintech) will be held within the framework of the Ho Chi Minh City Fintech Road 2025.

The Asian Development Bank (ADB) and the State Bank of Vietnam (SBV) on October 25 held a kick-off ceremony marking the implementation of the Swiss-funded US$5 million technical assistance, which aims to nurture financial technologies (fintech) serving the improvement of financial inclusion in Vietnam.

The Asian Development Bank (ADB) and Switzerland have signed a cofinancing agreement of up to US$5 million to develop financial technologies (fintech) that can help address low financial inclusion in Vietnam, particularly among small and medium-sized enterprises (SMEs).

The Government has issued a resolution to create a sandbox for financial technology (fintech) in the country’s banking sector.

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.