Vietnam predicted to be Southeast Asia’s fintech hub

Vietnam, whose economy has been one of the best performing economies in Southeast Asia, is likely to become a regional financial technology (fintech) hub, according to the website theaseanpost.com.

The website says Vietnam's economy has grown impressively and steadily in recent years. It recorded a 6.8% growth rate in 2017 � higher than the government's initial target of 6.7%. This has led to the growth of the middle class, increasing consumer demand, and a growing number of internet users, who have spurred Vietnam's digital economy. Currently 54 percent of Vietnam's population uses the internet and the number is expected to grow. Vietnam's government has been pushing for an expanded digital economy.

Vietnam has become fertile ground for fintech start-ups with strong support from the government that includes special tax incentives.

Source: VOV5

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