Cooperation between Hanoian and Singaporanian Stock exchanges

The Ha Noi Securities Trading Centre (HASTC) and Singapore Exchange Limited (SGX) yesterday signed a memorandum of understanding (MoU) outlining co-operation between market regulators.

"This is the first MoU of its kind," said Nguyen Vu Quang Trung, HASTC deputy director, "marking a significant milestone in the co-operation between the HASTC with other foreign exchanges."

The signing ceremony was witnessed by Lim Hng Kiang, Singapore’s minister for trade and industry and Vu Van Ninh, Viet Nam’s finance minister.

Under the MoU, the exchanges will share regulatory and enforcement information aimed at enhancing market development.

The SGX will provide educational assistance through seminars for Vietnamese companies seeking to raise capital through the Singapore exchange.

The HASTC will guide companies through legal and regulatory issues for issuing shares abroad and co-operate with the SGX in supervising Vietnamese companies listed in Singapore.

"This co-operation is very timely, as financial reform in Viet Nam is underway and consumer and investor sentiment is very positive," said Lawrence Wong, executive vice president and head of listings at the SGX.

He added that the collaboration would give the SGX insights into Ha Noi’s financial and corporate landscape, while helping Vietnamese companies address capital needs.
On the sideline of the event, a seminar on holding dual listings in Viet Nam and Singapore was held. The seminar was the first phase of the Viet Nam–Singapore Listing Preparatory Programme jointly launched by the Monetary Authority of Singapore and Viet Nam’s Ministry of Finance.

The second phase of the programme, scheduled for September in Singapore, will put Vietnamese executives in direct contact with Singaporean strategic investors.

Source: VNS