Digital Financial Inclusion in Vietnam: Progress, Policies, and Challenges

Vietnam’s journey toward financial inclusion has accelerated markedly in recent years through the adoption of digital finance. This article provides an academic analysis of how digital financial services are expanding access to financial systems in Vietnam, highlighting recent data and trends. We summarize the current state of financial inclusion—showing a sharp rise in account ownership and digital payment usage—and examine key government initiatives such as the National Financial Inclusion Strategy 2020–2025 and the national digital transformation program. Benchmarking Vietnam against international standards and regional peers, we find that Vietnam’s financial inclusion rate has caught up with, and in some aspects surpassed, those of similar emerging economies. We discuss the critical role of fintech innovations, mobile banking, and e-wallet platforms in reaching underserved populations, alongside supportive policies like regulatory sandboxes and mobile money pilots. At the same time, persistent challenges are analyzed, including gaps in digital literacy, cybersecurity risks, regulatory and infrastructure hurdles, and urban–rural disparities in access. The article draws on recent statistics from Vietnamese authorities and international organizations to ensure an up-to-date perspective. We conclude with policy implications emphasizing the need for continued public-private collaboration, strengthened digital literacy efforts, robust regulatory frameworks, and investments in digital infrastructure to sustain and deepen financial inclusion in Vietnam’s digital era.