The Philippine Stock Exchange (PSE) has signed a Memorandum of Understanding (MoU) with the Ho Chi Minh Stock Exchange (HOSE) “for mutual collaboration and communication of information and experience.”

The PSE said in a disclosed that its MoU with HOSE, one of the fastest growing bourses in Southeast Asia, will “facilitate the development and efficient operations of both securities markets.”

“We have been watching the significant developments in Vietnam over the past few years and the role that HOSE has been playing,” said PSE chairman Hans Sicat.

He noted that “despite being a relatively new stock market in Asia, the tremendous growth of HOSE can only be admired. HOSE has managed to capture the interest of investors locally and globally. As such, it is expected to become one of the more viable markets in Asia.”

Sicat said “the MoU signifies an important step in enhancing financial services co-operation between the HOSE and PSE. This should enable both exchanges to capture emerging opportunities in Asia.”

He said this MoU responds to the need for stronger global ties at a time of fragile global economies and vulnerable financial markets.

It also provides a new opportunity for PSE and HOSE to promote international cooperation to enhance both our securities markets.

“We find more reasons to cement our partnership after HOSE has recently joined ASEAN bourses to establish cross border trading, a project which the PSE is deeply involved with,” Sicat said.