Vietnam and Singapore ink MoU to promote development of stock markets

The MoU was signed on August 5, witnessed by Vietnamese Minister of Finance Ho Duc Phoc, Vietnamese Ambassador to Singapore Mai Phuoc Dung, and Singaporean Second Minister of Finance Chee Hong Tat.

The Singapore Exchange (SGX) and Vietnam Exchange (VNX) wish to develop communication channels to serve the interests of the Singaporean and Vietnamese stock markets. The two sides will share information on the operations and legal frameworks of products traded on the stock and derivative markets.

This MoU is also the foundation for the SGX and VNX to conduct discussions and negotiations on sharing information related to domestic market structures, such as legal frameworks, market information, and information provision services.

In addition, the SGX and VNX will also share experience in market surveillance of the stock and derivatives markets, and a legal framework for cross-listing activities. This is coupled with exchanges on corporate governance activities, including sharing experiences in establishing best corporate governance rules and practices for listed companies and investors.

The two sides will also support and improve the level of monitoring compliance with listing regulations of SGX and VNX, while promoting the image of listed companies on each other's stock markets. Efforts will be made to expand cooperation opportunities, with priority given to the development and listing of potential products on the stock and derivative markets.

Stocks, industrial real estate, gold, and cryptocurrency are identified as noteworthy investment opportunities in the second half in the context of Vietnam's economic landscape, which has shown positive signals in the first half of 2024.

Stocks in sectors such as telecommunications technology, finance, chemicals, and steel will be particularly favoured by individual investors in the last six months of this year.

Vietnam's State Securities Commission (SSC) on August 2 signed an MoU with the Australian Securities and Investments Commission (ASIC) in Sydney, marking a significant milestone in the collaborative efforts between the two regulatory bodies.