Contributing nearly 30% of GDP and creating jobs for more than 10 million workers, over 5 million household businesses are considered a vital pillar of the economy. However, their transition to enterprise models remains slow due to limited capital, technology, and an underdeveloped legal framework.

Government Decree No. 94/2025/ND-CP (Decree No.94), which provides for a controlled testing mechanism (sandbox) in the banking sector for the deployment of new products, services, and business models through the application of Fintech solutions, has officially come into effect starting from July 1.

The Australian Trade and Investment Commission (Austrade) signed a Memorandum of Understanding (MoU) with the Viet Nam Banks Association on June 2, marking a significant milestone in strengthening fintech cooperation between the two countries.