Nikkei Asian Review
Jeffrey Seah of Quest Ventures commented on the opportunities in Vietnam in the Nikkei Asian Review.
“Vietnam has a population of nearly 100 million people, roughly 70% of whom are under 35, and boasts an annual GDP growth rate of nearly 7%. Arguably the hottest market in Southeast Asia in 2019, Vietnam has enjoyed a surge in investors keen to ride the growth.
Vietnam’s mobile payments market is meanwhile projected to reach $70.9 billion by 2025 — a huge increase from $16 billion in 2016, according to UOB. The largely unbanked population and high mobile penetration are significant investor lures.
“Fintech is increasing productivity, while the traditional banking system is not efficient,” said Jeffrey Seah, a Quest Ventures partner. “Big corporates have not been able to develop fintech fast enough.””