Việt Nam and Australia have outlined plans to deepen collaboration in FinTech and RegTech, as Việt Nam pushes forward with its ambitions to build the Việt Nam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) and modernise its financial ecosystem.
The announcement came at a conference on the strategic vision for the VIFC-HCMC and bilateral cooperation potential, jointly organised on 14 April by the Australian Trade and Investment Commission and the VIFC-HCMC executive authority, said Vietnam News.
The event brought together senior figures from both countries to explore how Australian expertise in regulated financial services could support Việt Nam’s digital finance agenda.
Australian Senior Trade and Investment Commissioner Emma McDonald said Việt Nam is emerging as an attractive destination for FinTech development, with one of the region’s most dynamic digital banking markets. She pointed to expanding digital payments, rapid uptake of mobile financial services, and growing interest in artificial intelligence and data-driven banking as key growth drivers. McDonald also highlighted the country’s young population, stable environment, and strong GDP growth as factors positioning it as a future regional digital leader. She added that government efforts to create international financial centres and regulatory sandbox mechanisms — covering areas including credit scoring, peer-to-peer lending, and digital assets — were establishing a strong foundation for further expansion. According to McDonald, the VIFC-HCMC reflects Việt Nam’s ambition to become a globally connected financial hub, though she stressed that success depends not only on capital or infrastructure, but on building a trustworthy, data-driven, and inclusive financial ecosystem.
Australia brings considerable credentials to the partnership, ranking sixth globally and second across the Asia-Pacific in FinTech, with close to 900 active firms. Australian companies hold particular strengths in RegTech, data governance, cybersecurity, payment infrastructure, and digital assets — areas that closely align with Việt Nam’s stated priorities. Their experience operating within heavily regulated environments could assist Việt Nam in tackling challenges such as financial fraud, cybercrime, and broader security risks.
The VIFC-HCMC itself has made rapid progress, with VIFC-HCMC chief executive Rich McClellan noting that Việt Nam has moved from policy planning to operational design in under 18 months. Legal frameworks, governance structures, specialised courts, and arbitration mechanisms have all been outlined. Despite this, the centre remains in an “institutional activation” phase, with efforts concentrated on building a durable foundation for long-term growth. McClellan noted that international investors are increasingly focused on infrastructure readiness, legal reliability, and safe capital flows rather than headline growth figures, and that the VIFC therefore aims to develop not just a trading platform but a robust compliance and supervisory architecture.
Phạm Tuấn Anh, head of technology at the VIFC, described the centre as an envisioned international capital transit hub, with a focus on large-scale infrastructure investment such as metro systems and high-speed rail. The model incorporates an “offshore within onshore” approach, integration with global financial networks including SWIFT, and advanced security architecture. Six core technology pillars are under development: application infrastructure, real-time data systems, RegTech and supervisory technology, central clearing, an international-standard data centre, and blockchain-based asset digitalisation.
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