The government and the State Bank of Vietnam (SBV) have been very proactive in promoting the ecosystem for the development of fintech startups. Solidiance recorded that Vietnam currently has 67 fintech companies, which are competing for a USD 4.4 billion market. The country’s market size is projected to reach USD 7.8 billion by 2020. However, the number of fintech operating in Vietnam still remains limited compared to other countries in the region, including Singapore with 490 fintech companies in 2017, Indonesia 262, and Malaysia 196. 

The article was featured on Vietnamnet

Source: https://english.vietnamnet.vn/fms/business/214871/67-fintech-companies-compete-for-vietnam-s-us-4-4-billion-market.html

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