Addressing the signing ceremony within the framework of the 22nd Capital Market Development Forum in Moscow, MOEX Chairman of the Executive Board and CEO Alexander Afanasiev said that over the past 18 years, the securities market has contributed to the development of Vietnam – one of the fastest-growing and most vibrant economies in Asia-Pacific, adding that MOEX plans to expand ties with markets in Asia.
A man walks inside the Moscow Exchange in Russia
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Deputy Chairwoman of the HNX Board of Management Nguyen Thi Hoang Lan lauded MOEX as not only a large-scale securities bourse but also a hub of great ideas to run Russia’s securities market and economy.
She said through the MoU, Vietnam will learn about MOX’s experience in developing investment funds, stocks and debts, transaction and monitoring system and corporate governance.
According to the World Federation of Exchanges and Bloomberg, MOEX is the world’s second largest bond market, the fifth largest derivative market, the 13th largest stock market in terms of capitalization and ranks among 25 markets globally by total volume of equities traded.
MOEX operates trading markets in equities, bonds, derivatives, the foreign exchange market, money markets and precious metals. It also operates Russia's central securities depository and the country's largest clearing service provider.
Following the signing ceremony, both sides held a working session to discuss experience in operating stock, bond, derivatives and goods markets.
Vietnam and Russia have stepped up cooperation in various fields in recent years, especially investment and trade.
The Russian Export Centre in Ho Chi Minh City recently also launched a Russia Commercial House to support business connectivity between the two countries, thus boosting bilateral trade.
Russia will promote trade exchange activities and support import-export businesses in Vietnam, Russian Consul General in Ho Chi Minh City Alexey V.Popov affirmed at a ceremony introducing the Russia Commercial House model.
The Russia Commercial House, which offers space for product displays and meetings of businesses, is expected to become a venue for importers and exporters to exchange information and seek partners.
Popov said the sound traditional relations between Vietnam and Russia create a firm foundation for the two countries to develop economic and trade exchanges, noting that two-way trade topped US$5.3 billion in 2017, showing a year-on-year rise of 35 percent. Vietnam and Russia aim to bring the bilateral trade to $10 billion by 2020.
The Consul General added that Russia’s trade promotion agencies will actively work to connect Vietnamese and Russian businesses as well as increase support for their operation.
Elizaveta Zinovyeva, director of international trade development from RETs Group of the Russian Export Centre, said Russian businesses evaluate Vietnam as one of the most promising countries to expand exports in the coming time, especially after the free trade agreement between the Eurasian Economic Union (EAEU) and Vietnam came into force in 2016.
Vietnam not only records high economic growth but also serves as an important bridge for Russian businesses to access to other markets in the Association of Southeast Asian Nations (ASEAN), she said, adding that this is the reason why the Russian Export Centre launched the first Commercial House in HCM City – the southern economic hub of Vietnam.
According to Zinovyeva, the house will provide a number of services supporting trade activities for Russian exporters and Vietnamese importers.
