The State Bank of Vietnam (SBV) has said they will draw up a decree containing regulations for the fintech sector, according to Vietnam News. The publication is quoting Pham Anh Tuan, Director of the Payment Department at the SBV as saying the decree will be submitted for approval by the end of August.

For context: Fintech is already governed in Vietnam by a number of other laws, for example Decree 101/2012/NĐ-CP covering non-cash payments. A regulatory sandbox, however, something akin to what they have in Singapore has been talked about for sometime as a means for spurring growth in the sector. That said, Vietnam’s fintech sector has moved in leaps and bounds in the last few years and this could be because there has been a lack of regulations.