The Memorandum of Understanding (MOU) between the Central Deposit Insurance Corporation (CDIC) and Deposit Insurance of Vietnam (DIV) concerning cooperation in deposit insurance was signed in December 2006 and it expired on 15 December 2009. In order to continuously establish a closer relationship and cooperation, as well as to share the expertise and experience in deposit insurance, the two organizations agreed that MOU has been a valuable tool in CDIC-DIV relationship and intended to renew the MOU for another 3 years. Mr. Mai Minh De, Chairman of DIV, and Mr. Fred Chen, Chairman of CDIC, on behalf of their respective organizations signed the renewal of MOU in Hanoi, Vietnam on 11 December 2009. CDIC's visit was during the 10th anniversary celebration ceremony of DIV, Chairman Chen had been invited to be the honorable guest for the ceremony. The participants included the officials from Ministry of Finance, State Bank, and Financial Supervisory Agency, as well as experts and scholars from financial fields in Vietnam.
During this visit, Chairman Chen also had a meeting with DIV General Director Dr. Bui Khac Son. They exchanged the views and experience in implementing the deposit insurance system in both countries and discussed about the 2010 cooperation plan between the two organizations.