Banking & Finance

Launched late last year, the task now for Vietnam’s International Finance Center in Ho Chi Minh City is to ensure it is set up to deliver on its objectives.

The results highlighting intensifying competition as the gap between leading banks and their challengers continues to narrow.

A fintech and regtech cooperation programme between the two countries is gaining traction as both work to support the development of a robust legal and institutional foundation for Vietnam's International Financial Centre.

The Fintech Hub is expected to function as a "sandbox" for testing new financial models and a platform to connect banks, investors, and businesses.

Under current rules, licensed entities are only allowed to import gold bars and raw gold with a purity of at least 99.5%.

Despite the decline, domestic prices remaining about VND20.08 million ($763) per tael higher than international levels.