For many observers, Vietnam becoming a true financial hub seems an unrealistic vision. But why shouldn’t a bustling business metropolis like Ho Chi Minh City be able to develop into an international financial centre?
Interest ramps up in cryptocurrencies 09:00 | 30/04/2021
Vietnam is a country that has been booming economically for years. It is also open to new ideas and technologies. It is therefore not surprising that Vietnam is now ranked second in the world (out of 74 countries surveyed) in the use of cryptocurrencies. According to Statista - a German company specialising in market and consumer data - 21 per cent of respondents in Vietnam said they had used or owned cryptocurrencies in 2020. Only Nigeria is ahead of Vietnam.
By Prof. Dr. Andreas Stoffers - Country director, Friedrich Naumann Foundation Vietnam
Remittances, which are made by many Vietnamese abroad, are likely to play a significant role in this. But the gigantic profits that have been made with cryptocurrencies in the last 12 months are also likely to attract more and more Vietnamese investors and âamateur investorsâ. People do not want to miss out on getting rich. But is it really