On Friday, the State Bank of Vietnam announced the formation of a fintech working group and steering committee.
The new committee, headed by the State Bank’s Deputy Governor Dr Nguyen Kim Anh, certainly has the clout to change the framework for accessing 93 million people in a rapidly growing economy.
According to the State Bank’s website, the committee will be for formulating an annual fintech action plan and advising Governor on solutions to “complete the ecosystem” including a legal framework to facilitate the performance and the development of Fintech companies in Vietnam.
Inevitably a city somewhere in Vietnam will be designated a fintech “hub”. I hope it’s Da Nang. I like Da Nang.