Dai Nam University hosts international scientific conference on Fintech development in Vietnam

On November 22, Dai Nam University hosted an international scientific conference with the theme “Improving the Fintech development ecosystem in Vietnam”. Through this event, the University has “scored absolute points” with domestic and international scientists thanks to its spacious facilities; methodical reception process; tight program structure; quality presentations, with many contributions to the development of Fintech in Vietnam.

More than 200 domestic and foreign scientists attended

As the host of the Conference, Dai Nam University had the participation of: Dr. Le Dac Son - Chairman of the University Council; Board of Directors; leaders, staff, lecturers of Faculties, Departments, Boards, Institutes, and Centers.

On the side of leaders/representatives of Ministries, Departments and Sectors, there were the following participants: Dr. Nguyen Duc Kien - Member of the Monetary Policy Advisory Council; Dr. Nguyen Tu Anh - Director of the Center for Information, Analysis and Economic Forecasting, Central Economic Committee; Dr. Tran Nam Tu - Deputy Director of the Ministry of Science, Technology and Environment, Ministry of Education and Training; Dr. Pham Hong Quat - Director of the Department of Market Development and Science and Technology Enterprises, Ministry of Science and Technology; Mr. Nguyen Duc Thuan - Director of the Vietnam Environmental Protection Fund, Ministry of Natural Resources and Environment; Ms. Nguyen Thi Hai Binh - Head of the Research Department for Coordination of Supervision Policy, National Financial Supervision Committee, ...

In addition, there is the participation of more than 200 leading experts in the fields of technology and finance, from universities, research institutes and enterprises of Vietnam, the US, Australia, the Netherlands, Kazakhstan, Taiwan, ...

The workshop was led by leading scientists in the fields of technology and finance at home and abroad: Dr. Nguyen Tu Anh - Director of the Center for Information, Analysis and Economic Forecasting, Central Economic Committee; Dr. Can Van Luc - Member of the National Financial and Monetary Policy Advisory Council; Mr. Nguyen Hai Nam - Standing Member of the National Assembly's Economic Committee; Mr. Pham Xuan Hoe - General Secretary of the Vietnam Financial Leasing Association; Ms. Nguyen Thi Minh Ngan - Representative of the State Bank Inspectorate of Hanoi; Mr. Mukesh Pilania - Director of Techcombank Digital Retail Bank; Mr. Jo-Hui Chen - Professor of Finance and Business at Chung Yuan Christian University (Taiwan); Mr. Hessel Abbink Spaink - Fintech expert of PUM (Netherlands), Mr. Hwa-Ping Chang - General Director of Eureka Fintech (Hong Kong), ...

In his opening speech, Dr. Le Dac Son affirmed that the Workshop will certainly open up opportunities for experts and entrepreneurs in the industry to work together to build a healthy Fintech ecosystem, promote innovation, enhance competitiveness, expand opportunities for cross-border connectivity and cooperation so that the Vietnamese economy can develop more sustainably.

Dr. Le Dac Son emphasized: Fintech training and development in Vietnam is the absolutely right direction.

Many highly practical presentations

The workshop received 108 articles (of which 94 articles were peer-reviewed and edited) from domestic and foreign scientists, managers, and Fintech experts.

At the program, researchers, lecturers, experts and business managers shared, focused on exchanging and finding solutions in the field of banking and financial investment, related to the following topics: Fintech in Vietnam - Current situation and development trends, recommendations and policies; Spillover effects and transaction volume of Fintech trading funds; Improving the ecosystem to develop Fintech in Vietnam; Potential and development motivation of Fintech in Vietnam; Legal corridor in the field of Fintech in Vietnam...

The speakers of the second session discussed institutions and policies to provide in-depth insights into the legal framework in the Fintech sector in Vietnam.

Dr. Can Van Luc shared: The current situation of Fintech in Vietnam is developing rapidly in terms of quantity, diversity of products, services and attracting investment capital. The number of Fintech startups in Vietnam is increasing quite rapidly, from about 40 companies at the end of 2016 to about 176 companies at the end of 2022. Financial institutions (FIs) in Vietnam are actively investing in digital transformation, especially commercial banks.

To further improve the quality of human resources to meet the needs of Fintech development in Vietnam, Dr. Can Van Luc proposed that universities and research institutes should participate in 4-party cooperation: DCTC - Fintech - technology enterprises - Universities; train and develop Fintech human resources; participate in financial education and communication.

Dr. Can Van Luc has many years of experience as a member of the National Financial and Monetary Policy Advisory Council and a member of the National Committee for Pacific Economic Cooperation (VNCPEC), so he brought to the workshop a lot of useful information and practical recommendations for the development of Fintech in Vietnam.

According to Dr. Le Dac Son, the workshop was organized to identify difficulties and obstacles in the operations of Fintech companies, commercial banks and enterprises that have, are and will apply Fintech products, thereby proposing solutions and recommendations to remove difficulties and support the development of Fintech in Vietnam. At the same time, research and development of Fintech training programs at universities will be implemented, of which Dai Nam University will implement from 2024.

Dr. Le Dac Son affirmed: Dai Nam University continues to promote international development cooperation and promote Fintech training for students right from the first year of university.

“Investing in technology development is a key factor in developing Fintech in Vietnam. In addition, the human factor needs to ensure a solid grasp of knowledge about finance and information technology. Accordingly, we can develop long-term training programs for full-time students majoring in Fintech. At the same time, we can provide short-term on-site training for bank staff in the fields of finance and information technology…”, Associate Professor, Dr. Dang Ngoc Duc – Head of the Faculty of Finance and Banking, Dai Nam University said.

Associate Professor, Dr. Dang Ngoc Duc said that it is necessary to focus on both long-term and short-term training for full-time students in Fintech.

“There needs to be an investment fund to support Fintech startups” – Those are the proposals of Dr. Pham Xuan Hoe – General Secretary of the Vietnam Financial Leasing Association. He suggested that it is necessary to approach Fintech by innovating, accepting risks and losses, and there needs to be an insurance investment fund to support Fintech startups and innovations.

Dr. Pham Xuan Hoe commented: Investment funds are needed to support Fintech startups.

According to Dr. Can Van Luc - Chief Economist of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Vietnam should study and build a Fintech innovation center in Vietnam based on a business model combining the Government and the private sector. At the same time, it is necessary to pay attention to developing digital infrastructure, managing network security, data security, etc.

Fintech training application is the right direction of Dai Nam University

Associate Professor, Dr. Pham Van Hong - President of Dai Nam University said: “The papers presented at the workshop are valuable reference materials for Dai Nam University to develop a Fintech training program for students. The orientation of the school in the coming time is to train human resources who are both knowledgeable in the financial field and have in-depth knowledge of the technology field, and good working skills to meet the demand for human resources to develop Fintech in Vietnam”.

Mr. Pham Van Hong shares the training orientation of Fintech at Dai Nam University.

According to Mr. Hessel Abbink Spaink: “Work-based learning is the ideal learning model for students to acquire new knowledge and trends in today's digital world, especially in the field of Fintech. Therefore, to prepare the necessary foundation for students, universities need to ensure that they are fully equipped with skills for new graduates. The agility and leading-edge development trends of financial technology of Dai Nam University are a big "plus" for students to develop comprehensively and sustainably".

Mr. Hessel Abbink Spaink highly appreciated Dai Nam University's timeliness in Fintech training for staff, lecturers and students.

Mr. Mukesh Pilania shared: “I am impressed by the methodical and professional organization of Dai Nam University. Strengthening scientific research capacity and developing training programs in the field of Fintech contributes to consolidating and enhancing the position of Dai Nam University in the face of the opportunities and challenges of the current digital age”.

Mr. Mukesh Pilania was impressed with the spacious facilities; methodical reception process; and strict and professional structure of the International Scientific Conference of Dai Nam University.

The results of the Workshop will be reflected through recommendations that will be collected and sent to competent authorities such as the National Assembly Economic Committee, the Party Central Committee's Economic Committee, the Government Office, the State Bank, the Ministry of Finance, the National Financial Supervision Committee as well as relevant ministries, branches and units.

The international scientific conference “Improving the Fintech development ecosystem in Vietnam” has connected many prestigious domestic and foreign researchers, contributing many solutions and ideas on digital transformation, technology application, Fintech technology in the banking and financial investment sectors in an open direction. At the same time, it has created an opportunity for Dai Nam University to become a place to connect, promote international cooperation activities, exchange experiences, publish research, contribute to improving the quality of international publications of lecturers, and serve as a foundation for scientific research activities in other sectors and fields.

BTT