Opening of first stock market of Laos to fall behind schedule
CEO of the Korea Exchange shakes hands with Bank of Laos Governor in Seoul after signing a memorandum of understanding in September 2009.
Dethphouvang Moularat, president of the Lao Securities Market Establishment Committee said that the construction progress of the stock market was slowing down as the contractor failed to introduce new construction technology.
Dethphouvang said the government had acknowledged the possibility that the building would not be ready on time despite efforts of the contractor to fix the problem.
The exact time to open the country's first stock market has not been reset. However, the government expected that it should remain as close as possible to the original schedule, said Dethphouvang.
The construction of the stock market of Laos started in September last year. The establishment of the stock market is a 20 million U.S. dollar joint venture between the Lao government and the South Korean Stock Exchange, with the Lao government holding a 51 percent shareholding, said the newspaper.
Vientiane Times, Xinhua
> PVFCCo opens representative office in Cambodia (05/05/2010)
> Dollar or Riel? New Bourse’s Unresolved Dilemma (24/03/2010)
> Lao officials complete training in stock market (05/01/2010)
> Joint venture to help firms with stock market listing (09/12/2009)
> Construction of stock market building kicks off (30/09/2009)
> SECC releases latest draft edicts for bourse (16/03/2010)
> SECC receives 22 bids for securities licences (04/03/2010)
> Cambodian PM names 3 likely listings on new bourse (03/02/2010)
> Private Companies Prepare To Enter Stock Exchange (03/11/2009)
> Regional Securities Experts Mull Problems (28/10/2009)
