of the mou can only mean more opportunities for both our stock markets to seek greater collaboration, and i urge officials from the sgx and hanoi stc to move beyond just the mou document to plan for even deeper level of partnership and cooperation. i understand as well that a couple of the vietnamese state - owned enterprises have also made plans to explore a listing on singapore ’ s bourse – these are indeed concrete demonstrations of the close synergies between our two marketplaces. the stage is now set for an enduring relationship between vietnam and singapore that will last for years to come. i am confident that the vietnam - singapore listing preparatory program will be but the first of many other initiatives that will further cement the growth of vietnamese companies in singapore. let me now conclude by wishing all of you a fruitful and enriching conference ahead and a productive process tapping the international capital markets down the road. thank you.

has attracted investors from across the globe, attracting foreign direct investment of us $ 10. 2 billion in 2006. as vietnam ’ s economy continues to boom, your capital markets will also be developing just as rapidly. it is thus important during this dynamic phase of growth that we work closely together to develop more robust capital markets which are efficient, well - governed and will draw sustained investor interest. the vietnam - singapore listing preparatory program was developed with that intent. officials from the monetary authority of singapore have been in close dialogue with vietnam mof and ssc to develop a meaningful programme catered at helping vietnamese enterprises understand the workings of the international capital markets and the regulatory standards as well as market standards required for a listing in an international market outside of vietnam. we have invited representatives from the singapore exchange, as well as professionals from leading investment banks, accountants and lawyers to join us at today ’ s seminar, and they will cover a wide - ranging programme that helps to prepare vietnamese enterprises on cross - border listings, training on corporate governance, listing rules and accounting standards, amongst others. i understand that there are also plans for vietnamese companies to be introduced to institutional investors based in singapore at a later stage. all these efforts will pave the way for vietnam to tap on singapore ’ s capital markets as an additional channel to connect with global investors. we believe this will contribute to speeding up the pace of vietnam ’ s economic growth, even as you are taking significant measures to develop your own capital markets. singapore is now home to a wide pool of institutional funds, with more than s $ 720 billion of assets under management. as a well - managed pro - business marketplace, singapore is particularly attractive to international companies seeking an offshore listing. currently, more than 700 companies are listed on the singapore exchange. amongst them, more than 30 % are foreign companies from around the globe. the experience gained from the listing of these foreign companies has equipped singapore with the necessary expertise to help companies from both mature as well as emerging markets meet their capital - raising needs. in particular, the singapore exchange has had a long track record of being home to the ipos of many southeast asian and chinese companies. the singapore exchange will be able to share their expertise with our vietnamese friends on what are some of the areas that you should look out for, as you plan for your listing. i am also especially glad that the singapore exchange will be signing a memorandum of understanding ( mou ) with the hanoi stock trading centre this morning. the inking