On 2 August 2024, the Australian Securities and Investment Commission (ASIC) signed its first Memorandum of Understanding (MoU) with the State Securities Commission (SSC) Viet Nam in Sydney to support information sharing arrangements under a formalised capacity building program supported by the Department of Foreign Affairs and Trade (the Program).

The MoU was signed by ASIC Chair Joe Longo and SSC Chairwoman Madam Vu Thi Chan Phuong and witnessed by senior Viet Nam government officials.

Through the MoU, ASIC and the SSC expressed their willingness to cooperate and build on the aims of the Program by improving dialogue and enhancing engagement through technical cooperation and the exchange of experiences.

The Program is focused on strengthening technical cooperation in the regulation and supervision of securities markets, information sharing, and other areas of mutual interest supporting fair, orderly, and transparent markets.

ASIC Chair Joe Longo said, ‘The engagement demonstrates the strong ties between our countries and our mutual dedication to fostering cooperation and development of our respective capital markets.’

‘ASIC stands ready to provide technical assistance, training, and knowledge to enhance Viet Nam’s regulatory capabilities and infrastructure.’ 

'This MoU is a strong statement and affirmation for the constructive relationship between the SSC and ASIC, representing the mutual willingness for sustained and effective cooperation to support the development of our securities markets as well as prosperity of both Viet Nam and Australia,’ SSC Chairwoman Madam Vu Thi Chan Phuong emphasised.

The Vietnamese Consul-General Mr. Nguyen Dang Thang was in attendance as well as senior representatives from the Vietnamese government and DFAT.

The event included a bilateral meeting between the regulators to discuss current domestic and international regulatory issues and the implementation of upcoming activities under the Program.

Background

ASIC’s capacity building program with the State Securities Commission of Viet Nam is funded by the Department of Foreign Affairs and Trade under the Mekong Australia Partnership (MAP). The program’s objectives are to enhance regulatory capacity to help improve Viet Nam’s regulatory system and capital market resilience.