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The finance and banking sector in Vietnam is experiencing rapid growth while simultaneously facing various legal challenges. Identifying these constraints and leveraging legal opportunities will help businesses and investors optimize operational efficiency and minimize risks in this field. 1. Legal constraints in the finance and banking sector Vietnam’s legal environment for finance and banking still…
27
Jul
Jul
Effective July 1, 2025, Decree No. 94/2025/ND-CP issued by the Government of Vietnam marks a pivotal regulatory milestone for the growth of innovative financial solutions in the country. With the introduction of a regulatory sandbox, Vietnam officially establishes its first legal framework for testing new Fintech models under controlled conditions, enabling risk assessment and policy…
09
Jul
Jul
The rise of digital-only banks is ushering in a wave of innovation in Vietnam’s financial and banking sector. While the model holds significant potential in expanding financial inclusion and reducing operational costs, it also raises complex legal questions related to regulatory frameworks, consumer rights, and the state’s supervisory capacity. Expanding Access to Inclusive Financial Services…
06
Jul
Jul
As Vietnam continues to reinforce its position as a leading investment destination in the Asia-Pacific region, the demand for account opening and access to credit by foreign-invested enterprises (FIEs) has been on the rise. However, these activities are not merely administrative procedures—they are tightly regulated under Vietnam’s financial, banking, and oversea investment legal framework. This…
13
May
May
(Written by ASL LAW’s Senior Partner Nguyen Tien Hoa, Published on VIR) At a conference with small and medium-sized enterprises in early 2025, Prime Minister Pham Minh Chinh tasked the Ministry of Finance (MoF) and the Ministry of Science and Technology (MoST) with exploring the piloting of a cryptoasset exchange via a controlled testing mechanism….
16
Mar
Mar
Vietnam is actively considering issuing regulations on cryptocurrency management to ensure financial security and protect investors’ rights. Although cryptocurrencies have not been officially recognized, their increasing popularity has created an urgent need for a clear legal framework. The Current State of Cryptocurrency Usage in Vietnam According to data from cryptocurrency payment company Triple A, as…
04
Mar
Mar
The legal framework for virtual assets and digital assets is increasingly becoming a key focus in the legislative efforts of Vietnam’s ministries and government agencies. In a significant move, the Government recently issued Resolution No. 27/NQ-CP following the regular Government meeting in January 2025. Notably, this resolution mandates the Ministry of Finance to lead efforts…
01
Dec
Dec
On November 1, 2024, the State Bank of Vietnam (SBV) issued Decision No. 2411/QD-NHNN, establishing the maximum interest rates applicable to Vietnam-dong (VND) deposits of organizations and individuals at credit institutions and foreign bank branches. These regulations, implemented under Circular No. 48/2024/TT-NHNN, aim to regulate interest rates and ensure stability in the financial market. The…
26
Nov
Nov
The State Bank of Vietnam (SBV) has recently released a draft circular outlining key principles for mergers and consolidations involving credit institutions. The proposed framework aims to ensure compliance, transparency, and stability throughout the merger and consolidation process, safeguarding the rights of stakeholders while adhering to the relevant laws. Five Key Principles for Mergers and…
30
Nov
Nov
The Government of Vietnam has announced a significant structural reorganization of the State Bank of Vietnam (SBV), effective from January 5, 2025. Among the key developments, the newly established Department of Anti-Money Laundering will officially begin operations as an independent unit under the SBV. This change is part of Government Decree 146, issued on November…
