The program has been run annually since 2012 by Visa and the Central Committee of Vietnam Students’ Association (CCVSA), with support from the State Bank of Vietnam.
The launch of the 2017 program comes just after the Vietnamese government announced an upcoming major overhaul of the economy: by 2020, the majority of financial transactions in the country are to be completed electronically. However, according to a recent survey conducted by Visa, only half (51%) of Vietnamese respondents gave themselves a pass (6-10 points) on their knowledge of personal financial management.
Photos: Huyen Trang“Vietnam’s economy has been changing rapidly in recent years, with more people now moving into the country’s middle and upper classes. As the Vietnamese government seeks to reshape the economy in the next three years, it’s vital that consumers have a solid grasp of how to manage their finances -whether it’s simple things like creating a weekly budget, or more complex issues like taking out a loan for a vehicle or property”, said Mr Sean Preston, Visa Country Manager for Vietnam, Cambodia, and Laos.
The first round kicked off on May 9th and tasks students with telling stories about personal financial management through captioned photos. This could include everything from photos depicting struggles with the weekly shopping list, to not overspending when socializing with friends, to saving money for a holiday.
The best 50 entrants will be selected to compete in the second round on September 1st. Exhibitions and financial literacy seminars will be held in six destinations with the largest number of participants.
The finalists will stand to win a range of exciting prizes worth up to VND15 million in Visa prepaid cards and two air tickets to Singapore - the biggest financial center in Southeast Asia region.
This year, the organizing board also offers opportunity for Vietnamese students that are studying overseas via the CCVSA’s network./.