Malaysia, Viet Nam Cooperate to Develop Stock Market

Malaysia and Viet Nam agree to share information and past experiences in order to strengthen the development of their securities markets.

A memorandum of understanding was signed by the Malaysian stock exchange Bursa Malaysia Berhad and the Hanoi Securities Trading Center yesterday outlining the mutual development of securities markets in Malaysia and Viet Nam.

Under the memorandum, the two sides agreed to share information and past experiences in order to strengthen the development of securities markets in the two countries.

Both sides agreed to the possibility of a strategic alliance between the two markets, which might include cooperation in terms of future transactions and cross-rate listings as well as the provision of educational and training programs for staff members at the two trading centers.

Mr. Tran Van Dung, Director of the Ha Noi Securities Trading Center (HASTC), said the agreement was an important step in the HASTC’s long-term development plans, which aim to obtain the benefits of investing in the capital market.

Executive Director of Burma Malaysia, Yusli Mohamed Yusoff said the agreement demonstrates Bursa Malaysia’s commitment to developing strategic alliances with its global partners.

The same day, Bursa Malaysia and the State Securities Commission held a seminar for representatives from some of the largest companies listed on the Vietnamese market, governmental agencies and general investors, which introduced the advantages of cross-rate listing on the international transaction floor.

Bursa Malaysia agreed to let the first ten Vietnamese companies to list shares at its center to do so free of charge.

Source: TT – Translated by Trong Khuong

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