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Vietnam, Singapore strengthen cooperation in capital market, digital asset regulation
The State Securities Commission of Vietnam (SSC) and Monetary Authority of Singapore (MAS) on March 12 agreed to cooperate in safeguarding the integrity and stability of the countries’ capital markets, while fostering their connectivity.
This collaboration will focus on strengthening the regulatory framework for digital assets in Vietnam.
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Party General Secretary To Lam (L) and Singaporean Prime Minister Lawrence Wong witness the exchange of the Letter of Intent on March 12. |
Their signing of a Letter of Intent (LOI) facilitates information exchange on regulatory structures for capital markets and digital assets, the sharing of best practices in anti-money laundering and counter-terrorism financing, as well as capacity-building initiatives and expertise-sharing in the regulation and oversight of capital markets and digital assets.
Lim Tuang Lee, MAS Assistant Managing Director (Capital Markets Group), stated that the countries share a longstanding partnership in capital markets, strengthened through bilateral engagements and collaboration at various regional and international forums.
He noted that the signing of the LOI highlights mutual commitment to safeguarding the integrity and stability of their capital markets while enhancing cross-border connectivity.
The LOI would facilitate mutual learning and deepen collaboration between MAS and the SSC.
Vu Thi Chan Phuong, SSC Chairwoman, noted that Vietnam and Singapore have elevated their relationship to a Comprehensive Strategic Partnership, with economic, financial, and investment cooperation becoming increasingly profound and effective.
She expressed confidence that the LOI will provide a solid foundation for both capital market regulators to enhance cooperation, exchange expertise, and share experiences.
This, she added, would contribute to the overall development of the capital market and the digital asset sector, ultimately ensuring the integrity of the financial markets in both countries and the broader region.
The LOI is anticipated to promote stable, fair, transparent, and sustainable growth in the capital and digital asset markets of both nations moving forward, she said.
This is the first visit to Singapore by To Lam in his position as the General Secretary of the Communist Party of Vietnam (CPV) Central Committee, marking a new milestone in bilateral relations, and demonstrating Vietnam’s special attention to elevating relations with Singapore to new heights, in line with Vietnam’s foreign policy.
General Secretary of the Communist Party of Vietnam, To Lam and his spouse are making a state visit to Indonesia, an official visit to the ASEAN Secretariat, and an official visit to Singapore at the invitations of Indonesian President and President of the Great Indonesia Movement Party Prabowo Subianto, ASEAN Secretary-General Kao Kim Hourn, and Prime Minister of Singapore and Secretary-General of its People’s Action Party (PAP) Lawrence Wong.
Singaporean news agency CNA has recently ranked Phu Quoc among the top 25 must-visit destinations in 2025, placing it alongside some of the world’s most renowned travel paradises.
Vietnam’s trade with Singapore hit an all-time high in 2024, surpassing 31.67 billion SGD (approximately 23.5 billion USD).
Vietnam remained the third-largest rice exporter to Singapore with a revenue of 128.9 million SGD, up 28.45% compared to 2023 and accounting for 28.25% of the Singaporean rice market.
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