Vietnam's digital financial market is growing rapidly, expanding access to capital and financial services for businesses. However, this growth also brings new risks related to data breaches, online fraud, cyberattacks, and business models lacking clear licensing.
On August 12, the Investment and Trade Promotion Center of Ho Chi Minh City (ITPC) and the Vietnam International Arbitration Center (VIAC) co-organized the conference “Digital Transformation in Financial Transactions: Facilitating Capital Flows or Complicating Disputes.”
Cao Thi Phi Van, Deputy Director of ITPC, said digital transformation is driving production and business activities while expanding access to financial services for enterprises. Ho Chi Minh City aims for the digital economy to contribute more than 30 percent of GRDP in 2026 and is accelerating digitalization in key industries. Alongside opportunities to access financial resources, businesses must be assured of a safe, transparent, and efficient transaction environment.
Pham Duy Nghia, Vice Chairman of VIAC, noted that the growth of financial and banking activities and new capital mobilization methods is creating opportunities for enterprises but also requires a stronger legal framework to ensure sustainable development. According to VIAC, disputes in finance and banking accounted for about 10 percent of cases received in 2025.
Lawyer Pham Thi Thanh Huyen, Head of the Vietnam-Cambodia Financial Infrastructure Development Program and Arbitrator at VIAC, highlighted the rapid growth of digital finance. She pointed out that 87 percent of people now have bank accounts and QR transactions rose 128.2 percent between 2021 and 2025. However, this boom has also brought non-traditional risks such as data leaks, online fraud, cyberattacks, and unlicensed business models.
Lawyer Pham Thi Thanh Huyen called for stronger legal frameworks on data, digital identity, cybersecurity, and consumer protection, along with better data sharing, tighter FinTech oversight, more effective dispute resolution mechanisms, and closer coordination among regulators, banks, FinTech companies, and other stakeholders.
Discussing digital assets, tokenization, and blockchain-based transactions, Phan Duc Trung, Chairman of the Vietnam Blockchain and Digital Asset Association (VBA), said blockchain and tokenization can expand channels for assets, capital flows, and transactions, helping enterprises access funding more transparently.
However, he stressed that for digital assets to participate in credit transactions, legal issues must be clarified, including property rights, debt obligations, custody, and valuation. He also emphasized that traceability data must be backed by technical capacity, expertise, and legal recognition to be admissible as evidence.
