Vietnam is the latest country to ink a financial technology agreement with Singapore, making it the 20th cooperation agreement signed by the city-state.
The Monetary Authority of Singapore, or MAS, and the State Bank of Vietnam signed a co-operation agreement, the two said in a statement. They will work together to support the development of financial technology ecosystems and foster financial innovation.
Singapore has sealed similar agreements with Australia, Britain, Japan and Middle Eastern countries. The government has offered tech firms powerful incentives to settle in the Lion City, in a bid to establish itself as a fintech hub.
The move to grow Singapore as a fintech hub and a «smart financial center» is not done in isolation, but as part of a broader agenda to position Singapore as a «smart nation», Sopnendu Mohanty, the MAS' fintech chief, said in an interview this week with finews.asia.
