Vietnam’s new financial inclusion strategy aims to have 95% of the population aged 15 and above hold transaction accounts by 2030, and to have the value of non-cash payments reach 30 times the country’s GDP in the same period.
On May 25, Vietnam’s Deputy Prime Minister Nguyen Van Thang signed “Decision No. 928/QD-TTg,” approving the National Comprehensive Financial Strategy for the period 2026-2030.
The key goals of the ambitious strategy are that, by 2030: 95% of the population aged 15 and over have transaction accounts at banks or other authorized institutions; the value of cashless payments will be 30 times GDP; at least 30% of adults will have savings at credit institutions and branches of foreign banks; and at least 300,000 small and medium-sized enterprises (SMEs) will have outstanding loans at credit institutions and branches of foreign banks.
Speaking at a seminar entitled “Smart Payments Drive Digital Finance,” in Ho Chi Minh City on June 6, Deputy PM Thang said that Vietnam has witnessed a revolution in consumer behavior and cash-flow management across society in recent years, as reported by local outlet Vietnam Plus.
“Digital data, digital identification, digital connectivity, and digital payments are gradually shaping a more modern, transparent, and convenient financial system for citizens and businesses,” Thang told the seminar, jointly organized by the State Bank of Vietnam and Tuoi Tre (Youth) Newspaper. “Digital payments are a crucial condition for accelerating money circulation, expanding access to financial services, improving management efficiency, and creating momentum for digital economic growth in the new era.”
To achieve the lofty goals of the financial inclusion strategy, Thang reportedly said the Government has already instructed ministries, agencies, and local authorities to accelerate the completion of regulatory frameworks, policies, and technical standards, while promoting the application of digital technology in banking activities and strengthening connectivity among credit institutions, fintech companies, and financial service providers.
He went on to say that relevant agencies have also been tasked with expanding digital financial and digital banking products, increasing access to services in rural and remote areas, promoting cashless payments across all aspects of social and economic life, and encouraging salary payments and transactions for goods and services through bank accounts.
With these measures in place, Thang was reportedly bullish about the strategy’s prospects for success, saying that: “According to statistics from the State Bank of Vietnam, by the end of 2025, 88.96% of citizens aged 15 and above had bank accounts. The value of cashless transactions in 2025 reached 28 times GDP. Therefore, the likelihood of achieving the targets set by the National Financial Inclusion Strategy for 2026–2030 is highly promising.”
However, he noted there are still some barriers, such as disparities in access to cashless payment services between urban and rural areas, as well as demographic differences in digital transactions, with elderly and low-income individuals tending to be more resistant to cashless payments.
The Deputy PM was reportedly also keen to stress that efforts must be intensified to ensure information security, cybersecurity, personal data protection, and consumer rights progress alongside the continued development of digital financial infrastructure and spread of digital transactions.
Vietnam’s digital push
Vietnam’s financial inclusion strategy is just part of the Southeast Asian nation’s push to become a digital economy.
Earlier in May, before Thang signed the strategy into being, fellow Deputy PM Ho Quoc Dung—one of Vietnam’s six Deputy PMs—signed a decision approving a program to develop population data applications, digital identification, and authentication to support the nation’s digital transformation plan, known as “Project 06.”
The program is intended to run from 2026 to 2030, and among its aims is to handle administrative procedures, provide online public services, promote the digital economy, and modernize society.
By 2035, the country’s government wants to see Vietnam become a sustainably developed, comprehensive digital nation, with all transactions between citizens and government agencies conducted online.
In addition, the Ministry of Public Security, the Government Office, and the Ministry of Science and Technology are scheduled to deploy artificial intelligence (AI) and virtual assistants for public services and administrative procedures by September of this year; the same ministries are also tasked with studying and proposing solutions for “Digital Citizen Stations,” to be implemented in January 2027.
More recently, a May 29 report by Vietnam News revealed that the country’s Ministry of Finance plans to allow SMEs to use digital assets and intellectual property rights as collateral for bank loans, aiming to improve capital access for private businesses and tech startups and address financial constraints.
The proposal is reportedly included in the draft of the revised “Law on Support for SMEs,” which is currently open for public consultation. Under the draft law, SMEs can secure loans using intangible assets, digital assets, virtual assets, and other lawful assets.
Together with Deputy PM Thang’s financial inclusion strategy, these measures help explain why Vietnam is one of the world’s fastest-growing digital adopters, not least in the area of digital assets.
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