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Oanh Nguyen

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Oanh Nguyen is partner in Baker & McKenzie´s Ho Chi Minh City office. She has been advising on various aspects of corporate and commercial law for more than 17 years. She has been rated by Chambers Asia as a leading lawyer in Banking & Finance and Projects, Infrastructure & Energy. IFLR 1000 has listed her as a leading lawyer in the areas of Banking & Project Finance and Mergers and Acquisitions. PLC Which Lawyer? has also recommended her for Finance in Vietnam. Ms. Nguyen serves as editor of the monthly Banking and Finance Letter, and has delivered several presentations on foreign investments and M&A in Vietnam.

On 9 March 2021, the Prime Minister issued Decision No. 316/QD-TTg, which takes immediate effect, to allow a pilot program for mobile money service (MMS), under which telecommunication accounts can be used to make payment for small value transactions. The pilot program will run for two years from the first enterprise being approved to pilot the MMS, and the result of the pilot program will be used by regulators to design concrete legislation.

The MMS pilot program is designed to encourage financial inclusion and promote a cashless society, and rural, mountainous and remote areas will be prioritized for implementation. MMS can only be provided for payment of legal domestic transactions in Vietnamese dong, and payment for goods and services provided on a cross-border basis is not allowed.

Vietnam is projected to be the only ASEAN economy to report growth following the emergence of the global COVID-19 pandemic. With the ratification of the CPTPP, EVFTA, and entering into RCEP, coupled with the fallout from regional trade tensions, the country is poised as the next regional hub for logistics…