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Lao officials delve into corporate governance
As the Lao securities market heats up and the share price of listed companies skyrockets, finance employees and officials are broadening their knowledge to keep up with the latest developments.
To provide further information, the Lao Securities and Exchange Commission and the International Finance Corporation (IFC) yesterday coorganised a training session in Vientiane on corporate governance.
The training aimed to furnish officials with a deeper insight into corporate governance, especially as it relates to the securities market.
The training was co-chaired by IFC Head of Office in Laos Aimilios Chatzinikolaou and Acting Secretary General of the Securities and Exchange Commission Office (SECO) Ms Vathan Dalaloy.
The course was attended by 40 participants from SECO, Bank of the Lao PDR, and coordination committee members responsible for capital market development in Laos.
Ms Vathan said “Laos is developing quite fast in terms of finance and capital markets but the knowledge of our staff remains limited, so we have to increase our knowledge to keep pace with current developments.”
“This training is very important as the capital market is new for us and there are still many things to be done, especially in legal and administrative work.”
“Now we have a chance to study the theory, put it into practice and learn from the experiences of other countries,” Ms Vathan said.
“We can learn about the theory, practice and examples from other countries and how they can contribute to our own work.”
The training provided participants with in-depth information on topics related to corporate governance including an introduction to the topic, why it matters, stock market, securities and corporate governance, how to build investors' trust, international guidelines on corporate governance, OECD principles for companies and state owned companies, Basel principle, other ratings, assessing corporate governance, elements of control environment and process, transparency and disclosure, the role of the SECO and regulations.
The session also allowed participants to share their knowledge and experience among themselves and with expert from the US to bring about effective changes in the supervision, operation and expansion of financial markets.
The activities in establishing and developing a financial market are of primary importance, especially as Laos is moving steadily towards structuring a financial system.
vientiane times
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