In an effort to reinforce financial ties between Singapore and Vietnam, the Monetary Authority of Singapore ( MAS ) has signed agreements with the State Securities Commission of Vietnam ( SSC ) and the State Bank of Vietnam ( SBV ), targeting, in particular, the strengthening of capital market regulations and advancing financial innovation.

The MAS and the SSC exchanged a letter of intent to enhance regulatory cooperation in capital markets, particularly in digital asset supervision. The agreement facilitates knowledge sharing on capital market regulations, digital asset frameworks, anti-money laundering efforts and financial integrity measures, and is expected to support the development of Vietnam’s digital asset regulatory framework.

The MAS also upgraded the memorandum of understanding ( MoU ) with the SBV to expand cooperation in digital innovation, fintech development and payment connectivity. The refreshed agreement will promote cross-border retail payment linkages using QR codes, making transactions between Singapore and Vietnam more seamless.

“Stronger financial cooperation will support our growing trade and investment ties,” says Chia Der Jiun, the MAS’ managing director. “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.”

Nguyen Thi Hong, the SBV’s governor, adds: “The close cooperation in the banking and financial sector between Vietnam and Singapore over the years has demonstrated its positive role in supporting bilateral trade and investment relations. Singapore serves as a great inspiration for financial innovation in the region and globally.”