On the morning of August 5th, in the presence of Minister Ho Duc Phoc, Minister Chee Hong Tat, Vietnamese Ambassador to Singapore Mai Phuoc Dung, the Vietnam Stock Exchange (VNX), and the Singapore Exchange (SGX) signed a Memorandum of Understanding (MOU) to enhance cooperation between the two sides.
The Memorandum of Understanding marks the growing relationship between
the Vietnam Stock Exchange (VNX) and the Singapore Exchange (SGX)
The Memorandum of Understanding was signed by Mr. Luong Hai Sinh, Chairman of the Board of Members of VNX, and Mr. Loh Boon Chye, General Director of SGX on behalf of the Vietnam Stock Exchange. The signing ceremony was attended by several dignitaries including Chairwoman of the State Securities Commission Vu Thi Chan Phuong, Mr. Mai Xuan Thanh, Director General of the General Department of Taxation, Mr. Tran Quan, Director General of the State Treasury, Mr. Dinh Ngoc Thang, Deputy Director General of the General Department of Customs, as well as representatives of the leaders of functional units under the Ministry of Finance, the State Securities Commission, and the Vietnam Stock Exchange from the Vietnamese side. The Singaporean side included Mr. Lim Tuang Lee, Deputy General Director of the Financial Markets Division at the Monetary Authority of Singapore; Ms. Abigail Ng, Director of the Market and Consumer Policy Division at the Monetary Authority of Singapore; Mr. Tan Boon Gin, General Director of the Market Policy Division at the Singapore Exchange Group; and Ms. Janice Kan, Head of the Equity Markets Division at the Singapore Exchange Group.
The MOU aims to establish communication channels to enhance the relationship between VNX and SGX and to serve the interests of the Singapore and Vietnam securities markets. The collaboration will involve sharing information on the operations and legal framework of products traded in the respective securities and derivatives markets of the parties. Furthermore, this agreement provides a basis for VNX and SGX to engage in further discussions and negotiations to achieve specific objectives. The collaboration focuses on sharing information related to domestic market structure, including the legal framework, market information, and information provision services. It also involves sharing experiences in market surveillance and member supervision in the securities and derivatives market, as well as the legal framework governing cross-listing activities.
Additionally, the parties will collaborate on developing and promoting corporate governance activities, including sharing experiences in establishing the best corporate governance rules and practices for listed companies and institutional investors. They will also work to support and improve the level of monitoring compliance with the listing regulations of SGX and VNX and to promote the image of listed companies on the Vietnamese and Singapore stock markets. Finally, the MOU encompasses seeking cooperation opportunities, including the potential for product development and listing on the stock and derivatives market, based on full consideration of relevant legal frameworks depending on the time of exchange.
Presenting memorandum
On the morning of August 5, Finance Minister Ho Duc Phoc and Singaporean Finance Minister Chee Hong Tat held an important meeting to discuss Vietnam's economic progress and potential collaboration in the economic and financial sectors between the two nations.
Translator: Thúy Nga
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