The London Stock Exchange and the Ho Chi Minh Stock Exchange today signed a memorandum of understanding today that formalizes their existing ties.

The agreement will provide a mechanism of long term co-operation and foster the development of channels of communication and a continuing relationship between the LSE and the Ho Chi Minh Stock Exchange. It is also expected to help an increasing number of Vietnamese companies raise money on the LSE.

Commenting on the agreement, Martin Graham, director of markets at the LSE, said,“I am delighted to sign this memorandum with the Ho Chi Minh Stock Exchange. During the last few years, the London Stock Exchange has attracted a number of ambitious Vietnamese companies looking to expand their businesses internationally. When I visited Vietnam earlier this year I saw, at first hand, Vietnam’s great potential. I believe that this agreement can help unlock this promise, benefiting both exchanges and the Vietnamese companies we look to serve”.

This morning, to mark the signing of the deal, the CEO of the Ho Chi Minh Stock Exchange, Dr. Tran Dac Sinh, opened trading at the LSE.