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Lao journalists learn stock market reporting
Nikkei Inc, one of the largest Japanese newspapers, is sharing its experiences with Lao media organisations on how to report on the stock market as demand for market information rises in the emerging economies of Southeast Asia.
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| Mr. Savankhone delivers his opening remarks at a media seminar at the Lao-Japan Human Resources Development Institute in Vientiane yesterday |
In Vientiane yesterday, the specialist economic and financial publication joined hands with the Lao Ministry of Information and Culture, Lao Press in Foreign Languages, JICA and the National University of Laos' s Lao-Japan Human Resources Development Institute, to hold a media seminar on ‘Economic Media and the Securities Market'.
The five-day seminar aims to build the capacity of Lao journalists to provide accurate and timely information for local and foreign businesspeople who want to invest in the first Lao Securities Exchange (LSX), which began its transaction service on January 11. Editor-in-Chief of the Lao Press in Foreign Languages Mr Savankhone Razmountry opened the seminar with a speech on behalf of the Lao Ministry of Information and Culture.
He said that the media seminar was the product of a meeting between Nikkei Chairman Mr Ryoki Sugita and Lao media officials in Vientiane at the end of last year.
Mr Sugita and his delegation paid an official visit to Laos on December 9-12 in response to an invitation from the Lao Ministry of Information and Culture. He also paid a courtesy visit to then Prime Minister Bouasone Bouphavanh and Minister of Information and Culture Mounkeo Oraboun.
The Japanese newspaper considers Laos as an important emerging nation in Asia. In 2009 and 2010, the company invited then Prime Minister Bouasone Bouphavanh to deliver the keynote address at its 15th and 16th International Conferences on the Future of Asia.
Mr Savankhone expressed appreciation for the support of Nikkei in hosting the media seminar, adding that the initiative is to help Lao media organisations improve the capacity of their journalists in providing information about the stock market to members of the public and investors in this new era of the market-orientated economy.
The opening of LSX aims to create opportunities for Lao enterprises to mobilise funds from local and foreign investors so they can expand their businesses, creating jobs and income for Lao people in accordance with the Lao government's policy to liberate the country from the UN list of least developed countries by 2020, he said.
National University of Laos Vice Rector Assoc Prof Dr Saykhong Saynasine said that the university was happy to join with the Japanese newspaper and concerned sectors to host the media seminar and to contribute towards the provision of further human resources for the development of Laos.
A representative of Nikkei, Mr Takuhiko Goto, said the media plays an important role not only in providing information for investors so they can make decisions to invest in the stock market, but also in monitoring the operations of the market.
The Lao media has to provide investors with accurate information about companies listed on the stock market, he said.
He added that the stock market played an important role in the economic development of Laos as it can provide funds for the economic development of the country.
The seminar lecturer was a senior economist and journalist of Nikkei, Mr Masakata Maeda. Some 25 journalists from a number of media organisations, including Vientiane Times, Le Renovateur, Pasaxon Daily, Vientiane Mai Daily, Lao Pattana Daily, Socio-Economic Daily, Army Newspaper, and Lao National TV and Radio, as well as students from the national university, attended the seminar.
Mr Masakata said that sale of stocks was initiated by the Dutch East India Company in 1602. At that time, the company issued stock certificates to raise funds from investors so that it could trade with Southeast Asian nations, including Indonesia.
The holders of the stock certificates would get a dividend when the company made a profit. They also could sell their equities to other investors in exchange for cash, he said.
Stock markets were established to make the buying and selling of stocks easier. Today's stock markets not only serve as a place where people can buy and sell stocks but also provide a secure trading environment and a transparent list of participating companies.
Vientiane Times
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