Catalysing Trade Finance in Vietnam
Developing a Trade Finance Registry to expand SME credit access, drive digital innovation, and strengthen UK-Vietnam collaboration
2025
Context and Opportunity
Vietnam’s £500B export economy is one of Asia’s fastest growing, yet a trade finance gap of £70B continues to constrain growth, especially for micro small and medium enterprises (MSMEs), which make up 97% of businesses and drive much of Vietnam’s export value.
Banks struggle to extend financing due to limited infrastructure to assess credit visibility and risk. As Vietnam establishes International Financial Centres (IFC) in Ho Chi Minh City and Da Nang, improving financial transparency and access to capital has become central to sustaining growth and attracting international investors.
Key Opportunities
Trade Finance Gap
£70 B
Difference in demand and supply for trade transactions financing
Access to Finance
£800 M
Increased access to financing for businesses
UK Export Value
£25 M
Potential incremental export market value for UK PLC
Growth Gateway, in partnership with the State Bank of Vietnam, the Vietnam Banks Association (VNBA), and the UK Government, is helping design Vietnam’s first Trade Finance Registry (TFR), a digital platform to improve transaction efficiency, reduce risk, and expand lending for SMEs. The initiative aims to increase SME trade-finance access, build institutional capacity, and contribute to inclusive, sustainable financial growth.
Dr. Hung, Vice Chairman and General Secretary of VNBA
With support from the UK, Vietnam can establish a new benchmark for trade finance transparency, making breakthroughs & promoting inclusive & sustainable growth
With support from the UK, Vietnam can establish a new benchmark for trade finance transparency, making breakthroughs & promoting inclusive & sustainable growth
Iain Frew, British Ambassador to Vietnam
Impact Achieved
Building blocks: Vietnam as regional finance hub
- The TFR will position Vietnam as a regional financial hub, focused on innovation to grow international trade integration
- Accelerated Vietnam’s progress towards establishing IFCs reliant on data sharing between international financial institutions
Elevating the UK to strategic partner and investor
- Positioned UK as trusted long-term partner in trade finance and fin-tech
- Catalysed the UK-Vietnam Comprehensive Strategic Partnership
- Deepened government & industry partnerships through co-development of trade finance solutions
Unlocked commercial opportunities for UK
- Unlocked £50M commercial opportunity for UK fintechs over 10-year period
- Positioned UK banks and fintechs (HSBC, Standard Chartered, Traydstream) as key partners in the region’s transformation
- Showcased UK expertise in financial mobilisation, linking development impact with commercial opportunity
TFR Framework & Governance
Sandbox discussions
Working session between UK Ambassador, SBV, and VNBA representatives
UK-SEA Tech Week
in Vietnam
Roundtable connecting 9 UK fintechs with 15 VN banks on Trade Finance
To find out more about our impact, follow Growth Gateway on Linkedin or contact us