KUALA LUMPUR: Maybank Kim Eng has signed a collaborative cooperation and technical support framework agreement with Vietnam’s State Securities Commission (SSC) to advance sustainable growth and long-term development of its capital market.

The collaboration will strengthen the existing alliance forged in 2013, where a similar agreement was signed by both parties.

Under the scope of the three-year agreement, Maybank Kim Eng and the SSC will collaborate to develop Vietnam’s securities market to elevate its status to an MSCI emerging market, it said in a statement yesterday.

This includes sharing of best practices and standards in areas of risk management and controls, corporate governance and compliance, product development, standard accounting and reporting systems.

“We are honoured to collaborate with [the] SSC again. Vietnam, with its attractive demographics and rising economy, is not only an important market for us, but also an attractive one for global investors looking to tap the Asean opportunity,” said Maybank Kim Eng chief executive officer  Datuk John Chong.

“With six local branches, Maybank Kim Eng is deeply entrenched and invested in the Vietnam market. We are keen to share our regional expertise and experience gleaned from our operations in six Asean countries, to help contribute to the development of Vietnam’s securities market,” added Chong.

Meanwhile, SSC vice chairman Nguyen Thi Lien Hoa said: “We are pleased to continue our cooperation with Maybank Kim Eng, Asean’s leading investment bank with the largest equities coverage in the region.”

Maybank Kim Eng Securities is the largest foreign-owned investment bank and stockbroking house in Vietnam, and is the first 100% foreign-held brokerage firm approved by the SSC.

Operating in Vietnam since 2008, Maybank Kim Eng offers a full range of financial services, including brokerage, Internet and mobile trading and research, investment banking and corporate finance advisory services.

Signifying its long-term business commitment in Vietnam, Maybank Kim Eng has been working with Vietnam’s country authorities on various fronts to support development of the Vietnamese capital market.