Most Vietnamese banks are still struggling to comply with the banking authority’s regulations related to digital transformation, particularly those concerning the management of third-party risks.

Vietnam has been witnessing the birth of many technology businesses, in numerous fields and different new business models.

Seeing the growth potential ahead, many tech giants, such as Lenovo, Ericsson, Qualcomm, and Huawei, are targeting the Vietnamese market.

In 2020, Vietnam would announce the strategy of national digital transformation, marking the beginning of a comprehensive and inclusive switchover process nationwide.

Vietnam targets by year 2025, to have 50% of its small and medium enterprises shifting to digital platforms and to create at least 100,000 digital technology enterprises.