In keeping with the Ministry of Finance Delegation's activities in Australia, on August 2 in the morning, Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission of Vietnam, and Mr. Joseph Longo, Chairman of ASIC, Australian Securities and Investments Commission, signed a Memorandum of Cooperation on behalf of the two agencies at the commission's Sydney headquarters.
Representatives from the State Securities Commission, the Ministry of Finance, and the leaders of the City Stock Exchange in HCM, Vietnam Securities Depository and Clearing Corporation, and the Vietnam Stock Exchange were also present at the signing ceremony.
There are representatives from ASIC's units and Council on their side. Specifically, representatives of the diplomatic missions of the two nations were present at the signing ceremony: The Australian Embassy in Vietnam's second secretary, Ms. Arabella Bennette, is in charge of the Consulate General of Vietnam, which oversees New Zealand, Queensland, and South Australia, etc.
The State Securities Commission and ASIC signed a Memorandum of Understanding
under the signatures of their respective chairs
General Secretary Nguyen Phu Trong passed away, and Mr. Joseph Longo, Chairman of ASIC, extended his sincere condolences. His legacy of peace and prosperity in Vietnam will live on, and the entire community respects his contributions to Vietnam and the Vietnamese people.
Southeast Asia has experienced some of the strongest worldwide growth in recent years, according to Mr. Joseph Longo. Vietnam has shown continuously remarkable economic growth in that regard. The entire globe has taken notice of this, including investors and the Australian government. Thus, the first bilateral Memorandum of Understanding to be signed by ASIC and the Vietnam State Securities Commission will represent a significant turning point in the two organizations' collaborative relationship.
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Vietnam's economic growth and development are supported by ASIC, which is reaffirmed
n the MOU as part of its commitment to capacity building
In addition to improving technical cooperation regarding the administration and oversight of the two stock markets in two countries, this memorandum of understanding will provide the groundwork for the two agencies to establish an official information sharing mechanism, exchange best practices, and support investor protection initiatives.
In addition, he reaffirmed that ASIC's commitment to bolstering capability and promoting Vietnam's thriving economic development is reflected in the MOU. ASIC is prepared to offer technical help, training, and support in bolstering Vietnam's management infrastructure system, as part of its ongoing capacity building support initiatives for the SSC.
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Vu Thi Chan Phuong, the State Securities Commission's chairwoman
She revealed that the Vietnamese stock market is making a stronger case for itself as a crucial medium- and long-term capital source for the country's business sector and economy. Australian investors, among others, find it to be an alluring avenue for their investments. In order to improve the stock market and its training, capacity-building, and exchange initiatives, the Australian government has provided the SSC with invaluable support in removing some requirements and establishing solutions, according to the SSC Chairman. Vietnam State Securities Commission ASIC working group.
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Delegates after the signing ceremony
It is envisaged that the cooperation between the SSC and ASIC will grow more realistic and intimate while also fostering favorable support conditions based on voluntariness, friendliness, mutual benefit, and adherence to the laws of the two nations. the managerial organizations and units that run the Vietnamese stock market, all the while fostering an environment that makes it easier for Australian companies and investors to conduct business and make profitable investments in Vietnam.
The two agencies will carry out practical training program implementation, enhance information and support sharing, and boost the interchange of delegations from senior leadership and professional and technical staff in the near future.
Translator: Thúy Nga
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