The stock exchanges of Hanoi and Singapore signed an agreement on Monday to help Vietnamese companies seek international capital by listing in Singapore. Leading dairy product maker Vinamilk said in early March that the company would list shares on the Singapore stock market this year and others from Vietnam's two booming exchanges were expected to follow.
"With current international attention on Vietnam's capital market, we will try our best to capture this opportunity for a better future," Nguyen Vu Quang Trung, deputy director of Hanoi Securities Trading Center said in a joint statement with the Singapore Exchange Ltd.
The over-the-counter Hanoi exchange and the main Ho Chi Minh City Securities Center are among Asia's hottest stock markets in terms of growth, although their combined market capitalisation is only about $22 billion or 38 percent of communist-run Vietnam's gross domestic product.
Under a memorandum of understanding signed in Hanoi, the Singapore and Hanoi exchanges will share information on market regulation and enforcement. Financial authorities in both countries also began a programme to help Vietnamese companies with overseas listings.