The three-year agreement strengthens the already close working relationship the two parties have and will lead to joint initiatives that will contribute to the sustainable and long-term growth of Vietnam’s securities market.
Specific areas of collaboration under the agreement include risk management and controls, corporate governance and compliance, product development, standard accounting and reporting system, among others. Both parties will also team up to organise workshops, seminars and professional training programmes for SSC officials as well as to jointly conduct business surveys and product feasibility studies.
“We are delighted to enter this agreement which will deepen our relationship with Vietnam’s securities market and further open up opportunities for collaboration,” Tengku Dato’ Zafrul, group chief executive of Maybank Kim Eng said at the signing ceremony. “As a leading financial services group in Asia, Maybank Kim Eng is well-placed to leverage our market experience and technical expertise to provide advisory and support to SSC in strengthening their legal and regulatory framework in line with international standards and best practice. In doing so, we hope to play an instrumental role in raising the standard and efficiency of Vietnam’s securities market and in the larger scheme of things, facilitate its integration into ASEAN as well as international financial markets.”
Vu Bang, chairman of SSC said: “In aspect of international cooperation, SSC and the Stock Exchange have established relationships with many securities market agencies, the Stock Exchange, the largest financial groups in the world. We appreciate the cooperation with Maybank Kim Eng to share experiences and expand our association within the region, increase the inflow of the international investors to Vietnam.”
Maybank Kim Eng which started its operations in Vietnam since 2008, offers a full range of financial services including brokerage, internet trading and research, investment banking and corporate finance advisory services. Today, it is ranked among the top 10 brokerages in the country.
“As an active member of the Vietnamese securities market, we appreciate the importance of this partnership with SSC. We are strongly committed to the long-term development of our business operations here and the signing of today’s agreement is a demonstration of this commitment as well as our firm belief in the potential of Vietnam’s securities market,” Le Minh Tam, CEO of Maybank Kim Eng Vietnam said.
“Vietnam is a key strategic market for us as we work towards achieving our vision of becoming a regional financial powerhouse by 2015. The country has made great strides in economic development in recent years and we have been very impressed with the growth of its securities market over the last 13 years,” Tengku Dato’ Zafrul added. “We believe Vietnam will continue its strong growth momentum as it sets out to liberalise its foreign investment laws which will serve to attract higher foreign direct investments and in turn boost the development of its securities market”.
By Hoang Anh