|
Central bank to discuss stock market plans
The Bank of the Lao PDR will meet on Monday to plan the construction of a stock market this year, a bank official said on Thursday. The bank’s Office Deputy Head, Mr. MingkeoSouvathdy, told Vientiane Times that the meeting will discuss the development plan, focusing on the purchase of land and construction of the bourse building in 2009.
The government has sent a plan to open a stock exchange by 2010 and preparations are progressing well.
During a recent interview, security market establishment committee President, Mr. Dethphouvang Moularat, reaffirmed the committee will work harder in 2009 on preparations for the exchange.
The committee plans to issue further regulations relating to the exchange this month.
Later this year the joint venture agreement will be signed between the government and the Korean Stock Exchange, according to the committee.
The stock exchange is expected to provide benefits for businesses as well as the wider economy. It will encourage stronger competition among companies and give their products larger markets.
But critics are concerned about the global financial crisis and its effect on the planned stock market.
The committee has said the economic turmoil will have no impact on the situation and planning for the stock market continues to be on track because of Laos’s political stability, strong financial institutions and robust economic growth.
The Korean Stock Exchange will continue to provide support for the establishment of the Lao stock exchange.
Vientiane Times
|
