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| Deputy Governor of the State Bank of Vietnam Pham Tien Dung (right) speaks at the meeting. Photo: M.QUE |
Speaking at the meeting, Deputy Governor of the State Bank of Vietnam Pham Tien Dung said that fintech has a very wide scope. This is the application of technology to financial services and includes many different fields.
Fintech is not only limited to technology companies providing financial services, but also includes technology-based financial innovations such as electronic payments, digital banking, online lending, technology insurance, investment and asset management, cryptocurrencies and blockchain technology.
The mechanism and regulations on Fintech in Vietnam are in the process of being completed, focusing on creating a legal corridor for the development of financial technology, while ensuring safety and stability for the market.
Fintech is one of the important areas that will be focused on development when forming an international financial center in two cities, Da Nang and Ho Chi Minh City. In the coming time, the two localities will work together to have appropriate proposals to the State Bank in this area.
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| Working session scene. Photo: M.QUE |
According to Permanent Vice Chairman of the City People's Committee Ho Ky Minh, the international financial center in Da Nang will focus on specialized fields, combining advantages from the city's geopolitical - economic position and living environment, urban infrastructure, tourism and resort services, in which priority focus is determined.
In the first phase, the financial center will focus on innovating financial technology (fintech), implementing controlled testing (sandbox) of a number of new models such as digital assets, digital currencies, payments, digital money transfers, thereby attracting investment funds, remittance funds, small and medium-sized fund management companies, and promoting the development of startups providing financial solutions.
In particular, from July 1, Da Nang city and Quang Nam province will merge, creating large resources for Da Nang in terms of land fund, infrastructure, and human resources to develop a financial center.
In terms of infrastructure, Da Nang is the modern telecommunications hub of the country. Recently, a 1,000-rack data center is being deployed at Da Nang High-Tech Park; Da Nang Software Park No. 2 can accommodate 6,000 technology workers, in addition to science and technology, innovation and digital transformation projects that are being accelerated to serve investors and businesses...
Recently, Da Nang has issued nearly 30 policies to support science and technology and innovative startups, including outstanding and breakthrough policies according to Resolution No. 136/2024/QH15 of the National Assembly on organizing urban government and piloting a number of specific mechanisms and policies for the development of Da Nang city.
At the meeting, typical businesses in the fintech field raised questions about the following issues: incentives when opening offices and branches in Da Nang; recruiting and training local blockchain engineers, supporting startups; learning about the investment environment and market in Da Nang, promoting human resource training and cooperation between businesses, etc.
It is known that VietFintech Club was established at the end of 2017 under the Vietnam Banking Association (VNBA), established with the goal of supporting and advising VNBA in the field of fintech and digitalization activities.
Currently, VietFintech Club has more than 40 members. The Club develops directions, action plans and organizes the implementation of many key tasks such as actively participating in and proposing to complete the legal framework for new services and business models in the fintech field.
CINNAMON
Source: https://baodanang.vn/kinhte/202506/thuc-day-co-hoi-hop-tac-giua-da-nang-va-cac-doanh-nghiep-fintech-4009686/
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