Research and Markets conducted a recent study, forecasting Vietnam’s finance industry by 2013. Results reported Vietnam’s finance market has developed quickly in the past and gained great strategic importance on the global scale, as well as the fields of banking and insurance attracting source of investment from foreign countries due to their potential.      

The company’s report has emphasized Vietnam is reforming the field of banking and leaving out unreasonable procedures, pushing development for the coming years.

The field of banking is attractive to investors because Vietnamese banks’ scheduled annual growth rate during 2011-2013 period stands at 29 percent.

Also, according to the US Research and Markets Company, Vietnam’s insurance field in recent years has developed quickly and drawn the participation of many foreign companies, stimulating competitiveness and bringing advantages to consumers.

The company predicted that the micro-finance field has huge potential for Vietnam, with 73 percent of the population living in rural areas and about 54 percent of the labour force doing farming work.

It estimated the total lending capital, without payment, in rural areas occupy 17 percent of the banks’ credit source and over 80 percent of population in rural areas hasn’t approached any finance source from a finance institution.