The Letter of Intent signed between the Monetary Authority of Singapore (MAS) and the State Securities Commission of Vietnam (SSC) will facilitate information sharing on the legal framework for capital markets and digital assets.
Singapore - Vietnam strengthen cooperation in management and supervision of capital markets and digital assets
The Letter of Intent signed between the Monetary Authority of Singapore (MAS) and the State Securities Commission of Vietnam (SSC) will facilitate information sharing on the legal framework for capital markets and digital assets.
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| Monetary Authority of Singapore (MAS) and State Securities Commission of Vietnam (SSC) sign Letter of Intent (LOI) |
On March 12, the Monetary Authority of Singapore (MAS) and the State Securities Commission of Vietnam (SSC) agreed to cooperate to enhance capacity to protect market integrity and stability, and promote connectivity in the two countries’ capital markets. The two agencies agreed to cooperate to enhance capacity in the development and implementation of a legal framework for digital asset management in Vietnam.
The signed Letter of Intent (LOI) will facilitate information sharing on the legal framework for capital markets and digital assets, experience sharing in the field of anti-money laundering and counter-terrorism financing, as well as capacity building and experience sharing, legal framework in the management and supervision of capital markets and digital assets.
Mr. Lim Tuang Lee - Deputy General Director of Capital Markets Division of MAS said that Singapore and Vietnam have a long-term, multi-dimensional partnership in the capital market, strengthened through bilateral commitments and cooperation at regional and international forums.
“This LOI reflects our commitment to support each other in safeguarding the integrity and stability of our capital markets, while promoting cross-border connectivity. This LOI allows MAS and SSC to learn from each other and foster deeper collaboration,” said Mr. Lim Tuang Lee.
According to Ms. Vu Thi Chan Phuong - Chairwoman of the State Securities Commission, the Vietnam - Singapore relationship has been upgraded to a Comprehensive Strategic Partnership, in which economic, financial and investment cooperation has increasingly developed in depth, closely and effectively. The LOI signed this time continues to affirm a new step forward, creating an important foundation for the two capital market management agencies to strengthen cooperation, exchange expertise, and share experiences to contribute to the development of the capital market in general and the digital asset market in particular, contributing to the goal of ensuring the integrity of the financial markets of the two countries and the region.
“We believe and expect that the signing of this LOI will create conditions for the capital market and digital asset market of the two countries to continue to develop more stably, fairly, transparently and sustainably in the future,” the Chairman of the State Securities Commission emphasized.
The exchange of the LOI between the two agencies was witnessed by Singapore Prime Minister Lawrence Wong and General Secretary of the Communist Party of Vietnam To Lam during the General Secretary's official visit to Singapore from March 11, 2025 to March 13, 2025.
On the morning of March 12, 2025, within the framework of his official visit to Singapore, right after the solemn welcoming ceremony at the Parliament House, Singapore, General Secretary To Lam held talks with Singaporean Prime Minister Lawrence Wong. On the occasion of General Secretary To Lam's official visit to Singapore, the two sides agreed to upgrade relations, marking a historic milestone in the relationship between the two countries, opening a new chapter with a longer-term and more comprehensive vision.
The two sides agreed to set out major directions and assign relevant agencies, ministries and sectors to develop an action program to implement the Comprehensive Strategic Partnership and develop the relationship substantially and effectively, focusing on enhancing political trust through delegation exchanges at all levels, especially high-level ones; expanding and deepening economic, trade and investment cooperation; promoting cooperation in digital transformation, innovation, green economy, clean energy; strengthening cooperation in the fields of defense - security, culture, education, tourism and people-to-people exchange.
Singapore is currently the second largest investment partner in Vietnam with a total accumulated investment capital of over 80 billion USD, of which the Vietnam - Singapore Industrial Parks (VSIP) are considered a symbol of successful cooperation. The two sides also recognized positive progress in defense - security cooperation, education - training, science - technology, tourism, labor and people-to-people exchange.
Source: https://baodautu.vn/singapore---viet-nam-tang-cuong-hop-tac-quan-ly-giam-sat-thi-truong-von-va-tai-san-so-d253116.html
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