Vietnam’s financial sector leads charge in digital transformation

Vietnam is ardently pursuing digital transformation in its financial sector, seen as crucial to a national digital shift and enabling transformation across sectors, said officials at Vietnam Digital Finance 2023. Nguyen Durc Hien, of the Party Central Committee’s Economic Commission, stated digital finance is witnessing explosive growth globally, enhancing financial system stability and benefiting all stakeholders, including low-income groups. He highlighted the Ministry of Finance’s resolutions for digital transformation strategies up to 2030, and emphasised its crucial role in national economic well-being. The sector has seen advances such as electronic tax systems and enhanced data compatibility between state agencies, which aid in efficient electronic transactions. Achieving transformation goals requires persistent efforts, decisive actions, and fostering a digital government and society.