ADB economist Aimee Hampel-Milagrosa noted that the government is providing critical components such as financial and policy incentives to facilitate the growth of the next generation of Vietnamese startup unicorns. According to FLCQuangbinh, the top five startup industries in Vietnam in recent years were fintech, e-commerce, edutech, healthtech, and service software, according to ADB, with fintech at the forefront at 26.6%. Vietnam now has four unicorns, with a record investment capital of US$1.4 billion, placing it in third place in the Asia Pacific region behind Singapore and Indonesia.

Vietnam's fintech industry has seen exceptional growth, with a rise in foreign currency investments, adoption of digital financial services, and favorable government regulations. Currently, over 70% of fintech companies in Vietnam are startups, with 48% of businesses involved in payment industries offering online payment and online loan services to consumers and merchants, including companies like 2C2P, VTPay, OnePay, VTCPay, BankPlus, VinaPay, VNPay, and Senpay.

Mobile services company MoMo has solidified its position as a trustworthy e-wallet aide, while ShopeePay e-wallet has changed its name twice and now offers users exclusive promotions from the Shopee platform. Vietnam's population, with a high percentage of smartphone users, is a prime market for fintech growth. The demand for personal finance is expected to continue to rise, with personal credit forecasted to account for 24% of the technology application market in financial services by 2025.

The COVID-19 pandemic has accelerated global digitalization, and Vietnam's fintech industry is no exception. With more varied and improved products, Vietnam has emerged as a key location for fintech growth. As the government continues to promote mobile payments and the e-commerce industry expands, Vietnam's fintech industry aspires to the top spot.