The Monetary Authority of Singapore (MAS) has deepened its financial collaboration with Vietnam through two key agreements signed on March 12, reinforcing economic ties and fostering innovation between the two nations.
MAS and the State Bank of Vietnam (SBV) have enhanced their MoU on financial innovation to expand cooperation on digital innovation projects, enhance payment connectivity, and support fintech operations in both markets.
Chia Der Jiun, Managing Director of MAS, stated,
“Today, with the exchange of this upgraded MOU, we reaffirm our commitment to cooperate in the development of our financial sectors, including through FinTech innovation and payments connectivity.”
In a separate agreement, MAS and the State Securities Commission of Vietnam (SSC) signed a Letter of Intent (LOI) to promote regulatory cooperation and enhance the integrity and stability of capital markets.
The LOI focuses on capacity building in digital asset regulation, anti-money laundering (AML) and counter-terrorism financing (CTF) measures, and cross-border capital market connectivity.
SSC Chairperson Vu Thi Chan Phuong, said,
“Vietnam-Singapore relationship has been upgraded to a Comprehensive Strategic Partnership, in which economic, financial and investment cooperation has become increasingly in-depth, close and effective.”
“This LOI continues to affirm a new step forward, creating an important foundation for the two capital market regulators 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.”
The exchange of both agreements was witnessed by Singapore Prime Minister Lawrence Wong and His Excellency To Lam, General Secretary of the Communist Party of Vietnam, during the latter’s official visit to Singapore from 11-13 March 2025.
Featured image credit: edited from freepik
