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The State Securities Commission of Vietnam (SSC) and the Australian Securities and Investments Commission (ASIC) strengthen their cooperation with a Memorandum of Understanding. Source: SSC |
In his speech at the signing ceremony on August 2, ASIC Chairman Joseph Longo commended the
collaborative relationship with the SSC and viewed it as a testament to the strong bond between the two
organizations, as well as their shared vision in fostering cooperation and promoting the development of capital
markets in both countries.
According to Chairman Longo, this Memorandum of Understanding (MOU) will establish a framework for the two
regulators to facilitate the exchange of information and enhance technical cooperation related to the regulation
and supervision of their respective securities markets. It will also enable the sharing of best practices and
promote investor protection.
Mr. Longo affirmed that the MOU signifies ASIC’s commitment to supporting Vietnam’s capacity-building efforts
and fostering its economic prosperity. ASIC will continue to provide capacity-building programs for the SSC,
offering technical assistance, training activities, and contributing to the enhancement of Vietnam’s regulatory
infrastructure.
“The signing of this MOU marks the beginning of a new chapter in our partnership and reflects our shared
vision of developing dynamic capital markets governed by robust and effective regulatory frameworks,”
emphasized the ASIC Chairman.
Representing Vietnam, SSC Chairwoman Vu Thi Chan Phuong highlighted the growing significance of
Vietnam’s securities market as a vital channel for medium and long-term capital mobilization for businesses and
the economy, as well as an attractive investment destination for domestic and foreign investors, including those
from Australia.
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SSC Chairwoman Vu Thi Chan Phuong. Source: SSC
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Chairwoman Phuong also acknowledged the invaluable support received from the Australian Government during the
development of Vietnam’s securities market. This included funding for the Joint Capital Market Development
Program (J-CAP) of the World Bank, which assisted Vietnam in addressing criteria for market upgrade, as well as
training programs and staff exchanges facilitated by ASIC for the SSC.
“The MOU signed today between ASIC and the SSC is a clear demonstration of our strong and productive
collaboration, further enhancing the cooperation between our securities regulators and contributing to the
broader strategic partnership between Vietnam and Australia,”
she asserted.
Chairwoman Phuong expressed her hope that, based on mutual voluntariness, goodwill, and compliance with the laws
of both countries, the cooperation between the SSC and ASIC would become even closer and more practical. She
believed that this cooperation would not only support the regulatory agencies and market operators in Vietnam but
also create favorable conditions for Australian businesses and investors to thrive in the country.
Looking ahead, Chairwoman Phuong suggested that the two regulators should continue to strengthen high-level and
technical delegations, implement training programs, enhance information exchange, and provide mutual assistance in
market regulation and supervision.
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