Hanoi, May 2025 – Vietnam has taken a major step forward in modernizing its financial system with the introduction of Decree 94/2025/ND-CP, which officially launches a two-year pilot program for peer-to-peer (P2P) lending platforms. This new policy not only supports financial inclusion and innovation but also opens promising investment opportunities for foreign fintech players seeking entry into one of Southeast Asia’s most dynamic emerging markets.

Starting July 1, 2025, licensed fintech companies in Vietnam will be permitted to operate legally within a regulatory “sandbox” environment—an official space where new models can be tested under the supervision of the State Bank of Vietnam. This move brings P2P lending out of legal ambiguity and into a structured ecosystem that balances innovation with consumer protection.

A Landmark Opportunity for Fintech Investors

The P2P lending model, which allows individuals to lend and borrow directly through digital platforms without the involvement of traditional banks, has already taken root informally in Vietnam. However, with no prior legal framework, many platforms operated in a gray area—raising concerns over transparency, interest rates, and user protection.

Now, with clear rules and oversight, the sector is being brought into the mainstream. For international investors, particularly those with fintech experience, this marks a unique window of opportunity.

“Vietnam’s sandbox model is a smart, forward-looking strategy,” said Sophie Dao, Senior Partner at GBS – Global Business Services LLC, a leading consultancy supporting foreign investors in Vietnam. “It shows that the government is committed to nurturing innovation while still ensuring trust and transparency. We are already seeing significant interest from overseas clients eager to enter this space.”

Sophie Dao, Senior Partner at GBS

Sophie Dao added that GBS is well-positioned to guide foreign fintech firms through the regulatory, licensing, and business setup processes, including company registration, legal compliance, and partnership facilitation.

Aligning With Global Trends, But With Vietnamese Values

As countries around the world grapple with how to regulate the fast-moving world of fintech, Vietnam’s model stands out for its balance between openness and control. Only a limited number of vetted companies will be allowed into the sandbox, and they must adhere to strict standards regarding data reporting, user protection, and risk management.

“Vietnam isn’t rushing into deregulation,” Dao noted. “It’s learning from global best practices and tailoring a model that fits local conditions. That’s what makes it so attractive for long-term investors.”

The new decree also ensures that P2P platforms address one of Vietnam’s long-standing challenges: access to credit. Millions of small business owners, informal workers, and rural entrepreneurs are currently underserved by traditional banking channels. With P2P lending, individuals can now access loans quickly and digitally, while lenders have new avenues to invest directly in the country’s grassroots economy.

Building a Transparent, Inclusive Financial Future

Decree 94/2025 signals a larger shift in Vietnam’s financial strategy—toward a more inclusive, tech-driven system that embraces change while mitigating risk. It introduces formal oversight for platforms that were once unregulated, creating a safer environment for both lenders and borrowers.

The policy has also been well received by regional analysts and domestic fintech leaders, who see it as an essential step to level the playing field and eliminate predatory or deceptive practices.

For investors, it’s more than a regulatory update—it’s an invitation to be part of a new financial chapter in Vietnam’s development.

GBS: Your Trusted Partner in Vietnam’s Fintech Revolution

With over two decades of experience in legal and business consulting for foreign investors, GBS stands ready to support international players looking to explore Vietnam’s newly opened P2P lending space. From initial market entry to regulatory compliance and ongoing operations, GBS offers comprehensive end-to-end support.

“Foreign investors shouldn’t see this as a short-term play,” Sophie Dao emphasized. “Vietnam is laying the groundwork for a digital economy that will thrive in the next decade—and fintech will be at its core. Those who come early, with the right local guidance, will be in a strong position to lead.”

As Vietnam takes careful, deliberate steps into the future of finance, the world is watching. And for those ready to act, the door is now open.

For consultation on entering Vietnam’s fintech sector, contact GBS at www.gbs.com.vn or reach out to Sophie Dao and her team directly.

Related

Source: Vietnam Insider

Global Business Services LLC (GBS), a leading business and legal services firm in Vietnam, is proud to announce that it has been shortlisted for the “Financial Services Law Firm of the Year in Vietnam – 2025” at the Global Law Experts (GLE) Annual Awards.

This prestigious recognition highlights GBS’s outstanding expertise in investment consulting, merger & acquisition advisory, and company formation services for foreign investors seeking to enter and expand in Vietnam.

The Global Law Experts Awards celebrate top-performing legal and consulting firms worldwide that demonstrate excellence in industry knowledge, client service, and innovative solutions. Being shortlisted is a testament to GBS’s dedication to supporting international businesses in navigating Vietnam’s dynamic business environment, ensuring a smooth market entry and sustainable growth.

“With a highly skilled team and a diverse global client base, we take great pride in being recognized among the best in the industry,” said Sophie Dao, Senior Partner of GBS. “This shortlisting reflects our unwavering commitment to delivering top-tier financial and legal advisory services that drive success for our clients.”

GBS extends its heartfelt gratitude to its clients, partners, and team members for their continuous trust and support.

For more information about GBS and its services, please visit https://gbs.com.vn.

Contact:
Sophie Dao
Senior Partner, GBS
Email: sophie@gbs.com.vn
Phone: +84903189033
Website: https://gbs.com.vn

In the fast-paced world of business, access to the right capital at the right time is essential to drive growth, sustain success, and achieve transformative milestones. GBS | Global Business Services LLC specializes in delivering customized capital solutions tailored to your business’s unique goals and challenges.

With over $1 billion raised for our clients across diverse industries and circumstances, GBS is a trusted partner for businesses seeking to secure funding for growth, recapitalization, shareholder liquidity, and acquisitions.

Here’s how GBS can help take your business to the next level:

Raising Growth Capital: Fuel Your Ambitions

Every business dreams of scaling new heights, but growth often requires significant investment. Whether it’s funding a $20 million expansion, launching a new product globally, acquiring another company, or scaling operations, GBS provides access to a network of investors and lenders aligned with your goals.

From smaller funds investing $10 million in high-growth ventures to global funds writing $50 million equity checks, our team finds the ideal capital partner who brings more than just money – they bring strategic alignment, industry expertise, and shared vision.

GBS goes beyond simply securing funding. By creating interest among multiple investors, it ensures you get the best pricing, terms, and timing. Its goal is to secure the right growth capital so you can capitalize on every opportunity and achieve your vision.

Recapitalization: Transform Your Business

As businesses evolve, so do their financial structures. Whether it’s due to outgrowing current lenders, shareholder preferences, or planning for succession, GBS helps companies restructure their capital to align with their changing needs.

Our strong relationships with private equity firms, mezzanine providers, institutional investors, and banks enable us to offer targeted recapitalization solutions, whether through equity or debt. With experience in leveraged equity recapitalizations ranging from $10 million to $100 million, it helps businesses secure fresh funding and position themselves for future growth.

Acquisition Financing: Power Your Next Move

Acquisitions are a strategic way to grow market share and expand capabilities, but they often require significant funding. GBS specializes in acquisition financing, helping you secure the equity and debt you need to execute your strategy.

GBS guides you through every step of the process – from analyzing market conditions and weighing financing options to structuring the deal and accessing our network of banks, mezzanine lenders, and private equity funds. Our expertise ensures that you not only secure the necessary capital but also negotiate the best terms for your business.

GBS

Why Choose GBS?

GBS is more than just financial advisors – it can be your strategic partners. Its proven expertise, extensive network, and personalized approach allow us to connect businesses with capital partners who share their vision and values.

GBS believes the right capital partner offers more than funding – they bring knowledge, insight, and alignment to help businesses achieve sustainable growth. Whether you’re looking to raise growth capital, recapitalize, or finance an acquisition, GBS delivers results that drive success.

Ready to Unlock Your Business’s Potential?

The right funding can transform your business. With GBS by your side, you gain access to a team dedicated to finding the perfect financial solution for your needs.

Contact GBS today to explore how its capital-raising services can help your business grow, adapt, and succeed in a competitive market. Let GBS help you achieve your vision for the future.

Related

Source: Vietnam Insider

GBS – Global Business Services LLC has been named a finalist in the prestigious Corporate INTL 2025 Global Awards for the category of Financial Services Law Firm of the Year in Vietnam. This recognition highlights GBS’s outstanding contribution to the financial services industry and its commitment to delivering exceptional legal solutions.

The selection process was rigorous, with the organizer’s research team conducting in-depth evaluations over the past six months. By gathering insights from global business leaders, legal advisers, and investors, as well as considering thousands of nomination forms submitted by the publication’s vast database, the shortlist represents the top firms in the field.

Sophie Dao, Senior Partner at GBS, expressed her gratitude for the nomination, saying, “We’re honored to be recognized for our work in the financial services sector. Our team deeply understands the legal challenges foreign investors face when entering the Vietnamese market, and we take pride in providing practical, effective solutions that enable our clients to succeed. This nomination is a testament to our commitment to excellence.”

The winner of the Financial Services Law Firm of the Year award will be recognized as a market leader in the jurisdiction by the readers of Corporate INTL Magazine, solidifying their position as a top provider of legal services in Vietnam’s financial sector.

About GBS – Global Business Services LLC

GBS is a full-service business and legal consulting firm based in Vietnam, specializing in corporate formation, investment advisory, and compliance services for both foreign and domestic businesses. With a proven track record of helping international clients navigate Vietnam’s regulatory landscape, GBS has earned its reputation as a trusted partner for companies looking to establish and grow their presence in the country.

Are you a foreign investor looking to set up a business in Vietnam, but find the company registration process daunting and time-consuming?

Look no further than Global Business Services LLC (GBS), a reputable business law firm that provides a one-stop-shop solution for foreign investors to register their businesses in Vietnam without breaking a sweat.

GBS offers a comprehensive service that includes key business (investment registration certificate – IRC and enterprise registration certificate – ERC) and tax registrations, opening bank accounts, and more, all in one place. No need to contact multiple agencies or navigate complex bureaucracy. GBS also provides your company’s all-in-one compliance solution, which simplifies the process and ensures that foreign businesses operate legally in Vietnam without incurring any fines.

According to Sophie Dao, a senior partner at GBS, “forming your company in Vietnam as a foreign investor is a lengthy process, and you’ll need to have all the necessary information at hand. Deciding to launch your own business in Vietnam is hard enough. GBS takes what is often a big headache of incorporation for founders and simplifies the process into an efficient, personalized one-stop-shop.”

Rahn Wood, an Australian entrepreneur, echoed similar sentiments. “GBS provides a personalized and headache-free experience for incorporating your business in Vietnam. I highly recommend their services to anyone who wants to start a business in Vietnam.”

Founded in 2002, GBS has become one of the most prestigious business law firms in Vietnam with a network in Asia and Europe regions. As a company formation agency, GBS offers its services at an effective cost and even provides cashback in credit if investors use related services with them.

To learn more about how GBS can help you start your business and succeed in Vietnam, contact Ms. Sophie Dao at ask@gbs.com.vn, hotline/ WhatsApp/Viber/iMessage: +84903189033. You can also visit the company’s website at https://gbs.com.vn fore more information.

Contact:

Sophie Dao – Global Business Services LLC (GBS)
Email: sophie@gbs.com.vn
hotline: +84903189033
website: https://gbs.com.vn

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is reportedly close to finalizing a deal to sell a 15% stake to Sumitomo Mitsui Financial Group Inc. for $1.4 billion, Bloomberg reported.

People familiar with the transaction indicate that VPBank will sell over 1 billion shares to SMBC Consumer Finance, a unit of the Japanese “megabank,” at a price ranging from 32,000 to 33,000 dong ($1.35-$1.39) each. The deal is expected to be signed later this month.

When contacted for comment, a VPBank representative declined to provide any statement. Sumitomo Mitsui was not immediately available for comment outside of regular business hours.

Sumitomo Mitsui, Japan’s second-largest banking group, aims to capitalize on growth opportunities in emerging Asian markets through acquisitions, which have become increasingly attractive given the limited business prospects at home with low-interest rates and a rapidly ageing population. In November, the bank announced plans to acquire an additional 15% of the Philippines’ Rizal Commercial Banking Corp.

Why foreign investors interested in Vietnamese banks?

More and more foreign investors showed their interest in investing in Vietnamese banks thanks to strong financial performance of the banks in recent years, with stable profits and strong asset growth. This may make them attractive to foreign investors looking for solid returns on their investment.

“Vietnam has experienced strong economic growth over the past few years, which has led to an increase in demand for banking services. Foreign investors may see this as an opportunity to invest in a growing market”, Sophie Dao, Senior Partner at GBS – Global Business Services LLC – an awarded M&A advisory firm told Vietnam Insider.

The country has a stable political environment compared to many other countries in the region. This stability provides a favorable investment climate for foreign investors.

“Beside, Vietnam has been gradually opening up its banking sector to foreign investors, with plans to increase the foreign ownership cap in local banks. This potential for further liberalization may make investing in Vietnamese banks more attractive to foreign investors”, Sophie added.

The banking sector in Vietnam still has a relatively low penetration rate, with many people still unbanked. This presents a significant growth opportunity for banks that can reach out to these underserved populations.

Related

Source: Vietnam Insider

Investment in renewables is increasing as from offshore and onshore wind to photovoltaic and thermal solar, hydropower, geothermal, and biomass, more and more investors are entering the renewables arena — including oil and gas companies searching for opportunities.

A well known foreign investor and a local group of companies, which is a leading name in sustainable energy investment in Vietnam have signed a memorandum of understanding (MOU) with GBS for seeking to buy standalone green energy projects in the country.

According to the MOU, any projects owner, who has a sustainable energy project of significant scale (Solar farms, Wind farms, Hydropower plants, LNG power plants with minimum 20 MWp) to take forward, and are seeking capital or new investors to transfer entire project can get in touch with GBS – as an authorized partner – for further discussion.

GBS is a leading investment consulting firm in Vietnam, specialized in merge and acquisition advisory services.

The company has worked with a variety of developers, organizations and entrepreneurs over the years. Some have chosen to remain involved in their original projects, maintaining a degree of continuity and ownership. Others have sought to free up capital they have invested themselves.

Over the years, GBS has provided M&A consulting services to many renewable energy project owners and local businesses to secure hundred of millions of USD in fund raising, that will help them scale up the business operation and tap into new markets.

So if you have any related project to take forward, contact GBS’s experts for clean energy can be reachable via email: cleanenergy@gbs.com.vn or Phone and WhatsApp Business at + 84902964511

GBS has been named “Best M&A Advisor Vietnam 2021” by World Economic Magazine.

In what has grown into one of the most anticipated competitions in wealth management scene, the annual World Economic Magazine Awards recognizes outstanding achievement and progress across the consulting, asset management, banking, wealth management, alternatives and investment segments.

According to the jury, consisting of a panel of high-profile advisors, bankers, legal advisors and technologists, GBS stands out in the M&A industry for its “outstanding track record of delivery in strategic advice, performance improvement and change management projects for the investors.”

According to the publisher, its data shows that during the current awards period, GBS acted on eight of the top M&A deals.

GBS was a deal advisor to a consumer finance enterprise, crafting a particularly innovative solution for a re-organization that spanned three listing jurisdictions and a complex process involving a sware swap merger via a scheme of arrangement.

So, GBS has become an active and influential leader across the country M&A landscape. According to the data, it was an advisor on many domestic deals with a total transaction value of hundreds of million of us-dollars. This gave it more than 15% market share.

The largest transaction of all was for a consumer finance enterprise. The private-owned group’s acquisition of consumer finance assets heralded a key step in the reform of the network, opening market access to small, non-state-owned oil and gas producers and distributors.

GBS is very strong in the finance, tech sector and it was also the advisor for many foreign invested enterprises in Vietnam. It was also the lead on one of the market’s largest follow-ons of the awards period.

About GBS

GBS is a global consulting powerhouse. It began the operations since 2002 and have grown due to excellent relationships with its clients. The firm has offices in multiple countries with hundreds of people working inside them.

GBS achieved its success because of how successfully the firm integrate with clients. GBS covers many industries such as financial, tech, energy, business services, consumer products.

Contact GBS at: ask@gbs.com.vn, hotline: +84903189033 or website: gbs.com.vn

About World Economic Magazine Awards.

World Economic Magazine has looked at each firm and its portfolio of transactions over the past year to discover the best M&A firms. Its analysis was based on the following criteria: the power, influence and magnitude of deals done, revenue, history and leadership of founding partners and size of the firm. More information about the Awards can be founded in the website of World Economic Magazine.

 Global Business Services (GBS) LTD has been named the “Best Market Entry Consulting Firm Vietnam 2020″ by Vietnam Insider. This prestigious award was bestowed in acknowledgement of demonstrated expertise within the field, dedication to client service and commitment to excellence and innovation.

Entering a new market is a complicated process and requires a clear understanding of local culture, behavior, language, and foreign business regulations and practices, consulting firm can support its customers throughout all stages of the market entry process.

Market analysis, selection, and entry method can create a foundation for success before entering a foreign market.

“We provides Market Entry Advisory Services to companies that plan to grow, expand or relocate their business to new markets. These services range from assisting firms in market research, formulating modalities of market entry (Greenfield or M & A), through to the support in more efficient day-to-day operations on the new markets”. Sophie Dao, Partner of GBS told reporter.

Market entry services may include: Market Intelligence; Site Selection; Market Entry Strategy; Company Formation; Business Development, Competitor intelligence; Due diligence and Political and economic risk assessment.

The Vietnam Insider Awards presented by InsideOut recognize and honor the very best companies by industry across Vietnam. Highly regarded within Vietnam, the Awards identify and acknowledge outstanding workplaces & best performing companies as nominated and judged by the extensive viewership.

Vietnam Insider is a fast-growing media site with deep finance, enterprise, tech, travel, life and other industry verticals. In addition to providing and analyzing business news, the site aggregates news stories on various subjects from around the web. More information at: https://vietnaminsider.vn

GBS is one of the best business law firms in Vietnam with a network South East Asia, Middle East, Japan, HongKong, Malta and Poland. More information about the company can be found at: https://gbs.com.vn

When it comes to forming foreign invested company in Vietnam, you have two choices: do it by yourself or use an incorporation service.

Not surprisingly, in Vietnam: companies who offer this are oozing value when compared to other jurisdictions.

Below we will take a look at why it may be worth considering any of the many award-winning Vietnam organizations, who are leading the industry.

Trying to form a foreign invested company by yourself can be exciting, but also daunting. It takes time, effort and research and unless you are comfortable with filing legal paperwork to ensure your company is compliant with the local regulation in which you plan on operating, it can be complicated and confusing.

Related: How to set up a foreign company in Vietnam

Fortunately, you don’t have to go it alone. You could hire a lawyer, which could put a dent in your savings, or for a reasonable cost, use a formation company to do the entire formation process for you.

What are the benefits of using a company formation service?

1. It saves you money

Filing application forms to establish your foreign invested company in Vietnam by yourself can lead to mistakes. For example, completing and filing documents incorrectly can cause delays, which sets you back on doing the work you ideally want to concentrate on – getting your business off the ground.

When you use a professional service to form a company, it doesn’t matter if you understand the legalities of forming a company or not. They do everything on your behalf and have experts who constantly carry out company formations, resulting in faster, more accurate results.

In addition, using an incorporation service can be much more cost effective than hiring a lawyer to form your foreign invested company in Vietnam. The best incorporation services range from $999, each option will have particular set of features and pricing to suit your business structure and operations..

2. You can avoid mistakes

When forming your company by yourself in Vietnam, you will need to have knowledge of the laws, procedures, costs and requirements of the city or province in which you intend to do business. Unless you have some legal experience or specialist understanding of the laws, it is best to use a professional formation service take on this task for you.

Having your foreign invested company created by a business formation service who knows the requirements of each city and how things work in the city in which you plan on doing business, can expedite the formation of your company, leaving you stress-free.

3. It keeps your business compliant

When forming your foreign invested company in Vietnam, you will have to ensure it is compliant with the local regulation. To do this you will need the following.

• File Formation Documents: To make your foreign invested company officially exist, you will need to file company formation documents, known as Articles of Organization, Certificate of Organization, or Certificate of Formation…with the local authorities. Because company formation companies know each local rules, they can expedite this process for you;
• Registering and obtaining the Company’s seal;
• Preparing necessary dossiers and representing the Company to submit the application for tax declaration, social insurance….at competent authorities;
• Advisory services on opening bank account; notifying the bank account information with licensing authority;
• Personal income tax registration, declaration and finalization for expatriate and local employees;
• Advisory services on employee recruiting and labor issues; Drafting and registering statutory labor collective agreement and internal labor regulations.

Most company formation companies offer the above services as, saving you the time and worry from having to complete these documents correctly.

4. Paperwork processing is simplified

The amount of paperwork and time it takes to research and successfully file a foreign invested can be laborious and complicated. With a company formation service, you simply answer a few questions regarding your business, and they take care of the rest for you.

5. You are supported

Forming your own business in Vietnam by yourself can be stressful, especially if you run into problems or are unsure of what to do. The company formation services offer extensive support by phone and email, even at GBS, you can get support by Instant message over WhatsApp, Viber at +84903189033 or chat with its advisor directly from the website.

Some have websites that feature valuable free educational content, informative FAQs and city-by-city guides, while others can help you find accountants and legal professionals in the city that your company being operated, a service most foreign invested companies require sometime during their formation.

After forming my business is there anything else I need to do?

There are ongoing compliance requirements you will have to meet. A service provider can keep you notified of any legal requirements you need to take care of with the authority long after you file your company, allowing you to run your business worry-free.

Conclusion

When forming a foreign invested company in Vietnam you are required to pay government fees, irrespective whether you formed your business yourself or used a company formation service to do it for you. Using a formation service adds to your costs, but it also takes a lot of your plate, saving you time, and ensuring your business is compliant and remains compliant with the laws. There are few countries in the world where incorporation is so affordable and efficient as in Vietnam.

By Vietnam Insider staff with support by the lawyers of GBS, an investment consulting firm in Vietnam