The seminar aims to disseminate and propagate the content of Decree 94/2025/ND-CP, raise awareness of the legal framework, equip professional knowledge for the subjects of application of the Decree, and ensure safety and efficiency during the testing process.
Speaking at the seminar, Deputy Governor of the State Bank Pham Tien Dung said: Faced with the opportunities and challenges brought by the 4.0 industrial revolution, the Party and the State have had many policies and strategies to promote the application and development of science and technology, promote innovation and digital transformation, proactively and actively participate in the 4.0 industrial revolution, in which the issuance of a controlled testing institutional framework for new technologies, products, services and business models is one of the important tasks in implementing the "Strategy Quad", including: Breakthrough, development of science, technology, innovation and national digital transformation (Resolution No. 57-NQ/TW); international integration in the new situation (Resolution 59-NQ/TW); law making and enforcement (Resolution No. 66-NQ/TW); Private economic development (Resolution 68-NQ/TW) to bring the country to rapid and sustainable development in the new era.
As the lifeblood of the economy, science and technology development, innovation and digital transformation are always key driving forces to help the banking industry accelerate sustainably and improve service quality.
In recent times, the banking industry has been active and proactive in implementing the policies of the Party and the State and has achieved many outstanding achievements in digital transformation, contributing to the overall development of the economy, reflected in all aspects from institutions, infrastructure to products and services.
Deputy Governor Pham Tien Dung emphasized: “Perhaps this is Vietnam’s first Sandbox (controlled testing mechanism). According to Decree 94, there are three solutions considered to participate in the testing mechanism: credit scoring, data sharing via open application programming interface (Open API), peer-to-peer lending (P2P Lending). During the implementation of the Decree, the State Bank will continue to review and update new products, services, and business models in the banking sector to evaluate and propose expanding the solutions participating in the testing mechanism.
At the seminar, the Deputy Governor of the State Bank also requested that the specialized units of the State Bank clarify the spirit of the Decree, clarify what the services are, what their nature is, the conditions, procedures, time... for Fintech units and businesses to participate.
Ministries and branches need to continue to coordinate with the State Bank to implement the Decree, so that participating enterprises can have their applications quickly reviewed, creating favorable conditions for enterprises to participate, contributing to providing convenient financial services to customers.
“Fintech plays a very important role in banking activities. Fintech and banks develop together, supporting each other. I hope that with this Sandbox, Fintech businesses will continue to contribute to the development of the financial sector in Vietnam, especially helping to develop comprehensively and inclusively, helping disadvantaged people to use financial services at reasonable prices and good quality,” Deputy Governor Pham Tien Dung expressed.
Meanwhile, according to ADB Deputy Country Director for Vietnam Ron H. Slangen, the financial system in Vietnam is undergoing a major transformation, driven by technologies such as cloud computing, big data analytics, open API, Blockchain and AI.
“This shift is reshaping traditional banking and fueling the rise of fintech companies. To adapt, ADB supports the Controlled Testing Regime Decree, which promotes inclusive and climate-friendly finance and provides an enabling environment for fintech innovation,” Mr. Ron H. Slangen emphasized.
Mr. Thomas Gass - Swiss Ambassador to Vietnam also affirmed: Switzerland has been a steadfast and reliable partner of Vietnam in developing the financial sector for many years.
“With our support for fintech development, we are reaffirming and deepening that partnership. The Controlled Testing Decree not only encourages innovation from existing service providers, but also reduces barriers to entry for start-ups and market newcomers. We will continue to advocate for international best practices, promote innovation, leverage Swiss expertise, and invest in partnerships that deliver long-term impact. Our shared goal is to help Vietnam build a financial system that is resilient, innovative, and accessible to all. This will help Vietnam realize its aspirations of becoming a high-income country by 2045 and achieving net zero carbon emissions by 2050,” said Ambassador Thomas Gass.
Source: https://nhandan.vn/trien-khai-thu-nghiem-thuc-day-doi-moi-sang-tao-cong-nghe-tai-chinh-post890907.html
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