Unlocking Vietnam’s fintech potential

29 October 2021: Asialink Business was delighted to host the Minister for Trade, Tourism and Investment, the Hon Dan Tehan MP, in conversation with our CEO, Leigh Howard, on 27 October, for the launch of an exciting new program to support Australian fintech businesses to expand into Vietnam.  

Vietnam is emerging as one of the region’s most dynamic fintech markets, buoyed by an influx of venture capital, a growing tech savvy population and rising competition from both local start-ups and global tech players.  

Noting the warmth of the Australia-Vietnam relationship, Minister Tehan said Vietnam’s growing middle classes were rapidly adopting digital technologies, payments and ecommerce platforms:   

“There are huge opportunities for Australian fintech companies to invest into Vietnam and to work with companies in Vietnam in partnership.” 

“What we need to make sure is that Australian companies are playing their part in capturing some of the opportunities that are available in the market…Making sure we work in partnership is a key part of that, and using all the built-up knowledge and technology that we already have here in Australia in the fintech area,” Minister Tehan said.  

Australia and Vietnam are continuing to deepen and enhance their economic partnership. Participants in the event learnt about the assistance available from the Australian Government, with an insightful overview from Rebecca Ball, Austrade Senior Trade and Investment Commissioner, Vietnam.  

Moderated by Jason Yat-Sen Li, Asialink Council Advisor and Chairman, Vantage Asia, the event featured an expert business panel, who shared first-hand advice for newcomers to Vietnam’s fintech market.  

Nam Tran, Co-founder and Chairman of digital payments platform, Moca, outlined some of the emerging opportunities Australian companies may be well placed to consider. 

“There is a lot of potential in (digital) payments… With developments in banking penetration and broadband and mobile internet connectivity, alternatives to cash will become the majority in the near future. Fintechs and banks together have a lot of responsibility and opportunity to push in that direction,” Tran said.   

Duong Nguyen, Chairperson, EY Consulting Vietnam, discussed the evolving regulatory and legal environment, which newcomers needed to navigate.  

“Investing in fintech requires considerable diligence and understanding of the market, the business model and the product,” she said. 

Richard Everett, Head of Sales and Business Development, PI.EXCHANGE, shared the company’s experience in localising their AI platform for the Vietnamese market.  

“Localisation drives your relevance…What we were able to do as an Australian based company was present skills, industry knowledge and expertise. But you have to localise that, you have to make it relevant.” 

“Critically understand the offering you are taking to the market, critically understand where you are going to sell it to, get that baseline, and build from there” Everett suggested. 


The event marked the launch of the new Asialink Business Fintech in Vietnam Capability Development Program, in partnership with the Department of Industry, Science, Energy and Resources (DISER) and Austrade. Commencing in early 2022, the program offers a comprehensive online training series for Australian business leaders in the fintech sector who are exploring opportunities to plug-into Vietnam’s fintech market. Participants will take a deep dive into Vietnam’s fintech ecosystem, build practical business skills to enter the market, and learn how to identify and assess partners and establish a presence. 

To find out more about the program, visit here. Note: places are strictly limited.

Doing business in Vietnam? Download the updated Vietnam Country Starter Pack here.