Vietnam and Singapore Sign MoU to Boost Stock Exchange Collaboration

On August 5, the Vietnam Stock Exchange (VNX) and the Singapore Exchange (SGX Group) signed a Memorandum of Understanding (MoU) to enhance their communication channels and strengthen bilateral relations. The agreement aims to serve the interests of both the Vietnamese and Singaporean stock markets.

Vietnam’s Minister of Finance, Ho Duc Phoc, and Singapore’s Second Minister for Finance, Chee Hong Tat, witnessed the signing ceremony following their working session. This MoU is expected to support greater cooperation and mutual benefits for both exchanges.

The MoU, signed during the Vietnamese Ministry of Finance delegation’s visit, was witnessed by Ho Duc Phoc, Vietnamese Ambassador to Singapore Mai Phuoc Dung, and Chee Hong Tat. The agreement focuses on enhancing communication and cooperation between the Vietnam Stock Exchange (VNX) and the Singapore Exchange (SGX Group). It includes sharing information about domestic market structures, legal frameworks, and market surveillance practices.

The SGX and VNX collaboration will involve:

• Sharing best practices in corporate governance.
• Improving compliance with listing regulations.
• Boosting the visibility of listed companies on both exchanges.

This initiative also aims to strengthen market supervision and support effective cross-listing activities between the two countries’ stock markets.

In their discussions, Chee highlighted opportunities for increased investment cooperation, particularly in finance, energy, and services. Both sides agreed on the potential to elevate their bilateral relationship to a comprehensive strategic partnership, with a focus on expanding business investment opportunities and sharing expertise.

Phoc praised the strong and growing relationship between Vietnam and Singapore, noting Singapore’s role as Vietnam’s largest foreign direct investor, with nearly $5.6 billion in registered capital in the first half of the year. Singapore also remains a key trade partner for Vietnam. 

He also expressed his hope for deepening bilateral cooperation, particularly in the financial sector, and upgrading the Vietnam-Singapore relationship to a “Comprehensive Strategic Partnership.” He praised the positive recovery of the Vietnamese economy, with a GDP growth rate of 6.42% in the first half of the year and a notable increase in FDI, especially from Singapore.

Loh Boon Chye, CEO of SGX Group, highlighted the Vietnamese stock market as a standout performer in Southeast Asia and Asia, drawing global investor attention. He noted that international investors are keen to support and benefit from Vietnam’s market growth, provided that the country maintains high standards and norms in its financial sector.

In response, Second Minister Chee agreed to enhance cooperation in tax and customs management and expressed readiness to collaborate with Vietnamese agencies. The Singaporean Ministry of Finance will work closely with SGX and MAS to facilitate the proposed cooperation and share expertise. Both sides will focus on sharing best practices, improving corporate governance, and exploring further development opportunities.

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