Vietnamese approves two-year sandbox trial of P2P lending
Vietnam will roll out a two-year sandbox trial of peer-to-peer (P2P) lending, credit scoring, and data sharing via open application programming interfaces, starting July 1, according to a newly-issued government decree.
Decree 94, dated April 29, establishes a regulatory sandbox - a controlled testing mechanism - for fintech solutions in the banking industry.
One of the fintech solutions approved for controlled trial is P2P lending that connects borrowers directly with lenders through an online platform, bypassing traditional financial institutions.
Only P2P lending companies licensed by the State Bank of Vietnam (SBV) - the central bank - will be allowed to operate. Foreign banks are excluded from participation.
Credit institutions and fintech firms can apply for the regulatory sandbox, but this does not guarantee their future compliance with business and investment regulations once formal laws are enacted.
The results of the trial will serve as the basis for regulators to research, develop, and refine the legal framework for this lending sector.

Vietnam will begin a two-year trial of peer-to-peer (P2P) lending in July 2025. Illustration courtesy of ImmuneBytes.
The latest decree also permits the trial of other fintech activities, including credit scoring and data sharing via open application programming interfaces (Open APIs).
Each fintech solution may be tested for up to two years, depending on the specific area and type of service, starting from the date the central bank issues a certificate of participation. However, the trial period may be extended in accordance with regulations.
The rollout of the fintech trial is limited to Vietnam’s territory and may not be conducted across borders.
P2P lending companies participating in the regulatory sandbox are prohibited from engaging in any business activities not specified in their participation certificate. They are also barred from providing guarantees for customer loans, acting as borrowers themselves, or offering P2P lending solutions to pawnshop businesses.
Credit institutions, foreign bank branches, and fintech companies that choose not to participate in the regulatory sandbox or have not been approved for it must operate in compliance with existing laws on enterprises and investment, and other relevant regulations, according to the decree.
Vietnam currently hosts around 100 companies operating in the P2P lending sector, many of which have foreign investment.
However, the central bank has previously flagged concerns over a lack of transparency in some agreements between participants in the lending model, as well as the absence of mechanisms to oversee the use and management of borrowed funds, which could lead to disputes.
As such, establishing principles and regulations for a controlled trial of P2P lending fintech is deemed necessary.
Alongside P2P lending, Vietnam is home to approximately 200 fintech companies, with 90% operating in the banking sector, offering services like payments, rating apps, and credit scoring.
The government said the initiative is to foster innovation and modernize the banking sector, while enabling individuals and businesses to access transparent, efficient financial services at a low cost.
It also aims to assess the costs and benefits, while mitigating risks for customers using these solutions.
According to Robocash Group, Vietnam's fintech sector is experiencing the second-fastest growth in the Association of Southeast Asian Nations (ASEAN), just behind Singapore, and is projected to reach a market value of $18 billion in 2024.
Le Thi Le Hang, chief strategy officer at SSI Securities Corporation, noted that the growth of fintech is fueled by widespread applications in financial solutions and digital assets.
Analysts predict the fintech market could grow at a rate of 25-30% annually over the next 5-10 years, driven by advancements in AI, machine learning, and increasingly borderless access.
Fintech innovation in Vietnam has already made notable strides, from digital payments and e-wallets to P2P lending platforms and purely tech-based securities firms.
- Read More
Vietnam’s wood pellet industry needs production standardization to meet global demand: experts
Businesses should invest in developing dedicated raw material zones to reduce the Vietnamese wood pellet industry’s reliance on secondary supply sources and ensure compliance with legality and sustainability standards, said an expert.
Economy - Tue, July 15, 2025 | 9:18 am GMT+7
Riding out tariff turbulence, investment funds in Vietnam report strong growth gains
Many equity funds in Vietnam have posted strong growth returns, with gains exceeding 30% since the market’s April 10 trough in 2025, data collected by The Investor shows.
Finance - Tue, July 15, 2025 | 9:00 am GMT+7
Singapore supports businesses, workers amid US tariff pressures
The Singapore Economic Resilience Taskforce (SERT) has announced measures to help Singapore companies adapt to a new U.S. tariff.
Southeast Asia - Mon, July 14, 2025 | 10:11 pm GMT+7
Malaysia makes efforts to minimize US tariff’s impacts
Malaysia’s top export to the U.S. - electronics and electrical products - will face the biggest brunt of a 25% tariff hike that the U.S. has imposed on the country, said head of School of Business under the Monash University Malaysia Prof Nafis Alam.
Southeast Asia - Mon, July 14, 2025 | 10:08 pm GMT+7
Thailand faces $6.14 bln export loss if US tariff is 25-36%: forecast
Thailand could lose up to THB200 billion ($6.14 billion) in export value this year if the U.S. imposes new tariffs ranging from 25-36% on Thai goods, according to a forecast from the University of the Thai Chamber of Commerce (UTCC).
Southeast Asia - Mon, July 14, 2025 | 10:06 pm GMT+7
Southern Vietnam province Tay Ninh okays many high-tech agri projects
Tay Ninh authorities recently granted in-principle approvals to a string of high-tech agricultural projects, paving the way for significant development opportunities in the southern province.
Industries - Mon, July 14, 2025 | 10:00 pm GMT+7
Construction ministry backs $1.95 bln port project in southern Vietnam
Geleximco Group's Cai Mep Ha container and general port project aligns with the national master plan and the master plan for Vietnam’s seaport system, according to the Ministry of Construction.
Infrastructure - Mon, July 14, 2025 | 5:09 pm GMT+7
Electric vehicles in Vietnam: 7 years of development and double-digit growth prospect
The shift toward greener mobility has been underway in Vietnam and the local electric vehicle (EV) market is expected to see double-digit growth thanks to favorable policies, infrastructure development, automakers’ efforts, and a young consumer base.
Economy - Mon, July 14, 2025 | 4:46 pm GMT+7
HCMC apartment prices continue to rise as supply hits 10-year low in H1
The apartment market in former Ho Chi Minh City continued to see rising prices since the total supply in the first six months of 2025 hit the lowest since 2015, according to real estate consultancy firm DKRA.
Real Estate - Mon, July 14, 2025 | 4:03 pm GMT+7
Buyer secures Sunshine Group’s Hanoi shophouse at 15% lower than market price via livestream
A buyer successfully secured a shophouse at property major Sunshine Group’s Noble Palace Tay Thang Long project in Hanoi for VND11 billion ($421,295), VND2.5 billion or 15% below market value, during a bidding livestream on the NobleGo platform held last Friday evening.
Companies - Mon, July 14, 2025 | 1:37 pm GMT+7
Vietnam’s major rice exporter Vinafood 1 tasked with developing mega agri-logistics hub
Vinafood 1, Vietnam's top rice exporter, has been asked to develop an integrated hub for agricultural trade, logistics, warehousing, exports, customs, banking, irradiation, and research and development activities.
Industries - Mon, July 14, 2025 | 12:19 pm GMT+7
Vietnam conglomerate Masan to issue over 7.5 mln ESOP shares
Vietnam’s leading multi-sector conglomerate Masan Group will issue up to 7.5 million MSN shares under an employee stock ownership plan (ESOP) at a par value and issue price of VND10,000 ($0.38) apiece.
Companies - Mon, July 14, 2025 | 11:26 am GMT+7
Investment funds in Vietnam upbeat about new US tariff
With Vietnam soon reaching a trade agreement with the U.S., major uncertainties have significantly diminished, positively impacting investor sentiment in the stock market, according to investment funds.
Finance - Mon, July 14, 2025 | 9:04 am GMT+7
AI, data platform investment unlocks huge opportunities to enhance customer experience: Masan CEO
Vietnam’s leading multi-sector conglomerate Masan Group has made strong investments in AI, big data, and integrated supply chains to improve its operational efficiency, optimize costs, and better serve Vietnam’s 100 million consumers, said CEO Danny Le.
Companies - Sun, July 13, 2025 | 6:51 pm GMT+7
HCMC poised to become Southeast Asia's innovation, financial hub following merger: experts
Ho Chi Minh City, Vietnam’s southern metropolis, is expected to establish itself as a hub for finance, manufacturing, trade, logistics, and innovation in Southeast Asia, after its merger with neighboring provinces.
Economy - Sun, July 13, 2025 | 1:56 pm GMT+7
PVI Insurance honored with prestigious international awards
2025 marks a proud milestone for PVI Insurance Corporation (PVI Insurance), as it has been consecutively recognized with prestigious accolades from top-tier institutions in the Asian insurance industry.
Companies - Sun, July 13, 2025 | 1:27 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?