Representatives from the Australian Trade and Investment Commission and the Vietnam Banks Association at the signing ceremony on June 2.
The Australian Trade and Investment Commission (Austrade) and the Vietnam Banks Association (VNBA) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in financial technology and digital innovation between the two nations.
The MoU was formalised during a ceremony organised by Austrade Vietnam, followed by a thought leadership session exploring opportunities for fintech collaboration. The event was attended by Australian Trade and Investment Commissioner to Vietnam, Jonathan Saw, along with representatives from the Vietnam Banks Association, the Vietnam Fintech Club, and key leaders from both Australian and Vietnamese businesses and institutions.
The agreement outlines two primary objectives: to cultivate a dynamic fintech ecosystem and to enhance bilateral trade and investment in financial services and technology sectors. It sets a framework for knowledge sharing, support for fintech delegations and business missions, academic collaborations, and the implementation of strategic programs that facilitate mutual investment.
Australia and Vietnam aim to capitalise on their respective strengths, with Australian tech firms increasingly entering and expanding within Vietnam’s rapidly growing, digitally driven market.
“This framework for collaboration will help connect Australian fintech innovators with Vietnamese financial institutions, support startups and scaleups, and encourage joint efforts to develop secure, inclusive, and modern financial solutions,” said Commissioner Saw.
He noted that Australia’s mature financial services industry, underpinned by advanced technologies, aligns with the country's strategic priorities in Southeast Asia, particularly in digital economy and financial services as outlined in Australia’s Southeast Asia Economic Strategy to 2040.
Future initiatives under the MoU include the launch of a Landing Pad Vietnam program focused on fintech and cybersecurity immersion. Both countries are committed to continued cooperation in driving digital transformation through sustained partnerships and innovation-led strategies.