Over the last couple of decades, Vietnam deeply integrated into the region and the world and now is an open and high growth economy with 15 Free Trade Agreements (FTAs) into effect both bilateral and regional FTAs. With a strategic location in the Southeast Asian region and advantages of favorable investment policy, major exporter of the world’s manufacturing goods and motivated and adaptable workforce, Vietnam is also attracting foreign investors doing business in the country. Together with the incentive policy, the country is adopting best practices into its legal framework.
To deal with the context of challenging and fast changing business environments, with our deep insights and foresights, we are navigating our clients to engage and to influence concerned stakeholders to seek changes that are doable and feasible with science-based evidence. We are diligently helping our clients with a wide range of issues from taxation, investment license, sustainability, Environment, Social and Governance (ESG), Extended Producers Responsibility (EPR), plastics recycling technology, chemical industry, food and beverage to other issues of regulatory policy. We are right here to help you advocate for an enabling regulatory environment.
In recent years, Vietnam’s fintech sector has witnessed remarkable growth, driven by increased adoption of digital payments and technological advancements. The COVID-19 pandemic further accelerated this shift, making QR codes and mobile wallets commonplace, particularly in major cities. Vietnam continues to present promising opportunities for fintech innovation, with peer-to-peer (P2P) lending and capital mobilization emerging as key areas of development. P2P lending offers a practical solution to the challenges of high-interest informal lending, enabling smaller borrowers to access credit at more competitive rates.
The State Bank of Vietnam (SBV) is currently exploring the implementation of regulatory sandboxes for P2P lending, credit scoring, and Open APIs to encourage innovation while addressing potential risks. These regulatory frameworks open new possibilities for fintech companies in Vietnam. Midland & Partners’ legal counsel team is well-equipped to support fintech firms in preparing comprehensive dossiers and advocating for the approval of fintech sandbox licenses. By providing expert guidance, Midland & Partners ensures that fintech companies can navigate regulatory challenges effectively, fostering sustainable growth and success in Vietnam’s rapidly evolving fintech ecosystem.
