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52887
Mon, 03/30/2009 - 16:04
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https://oananews.org//node/52887
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Twenty companies apply for listing in proposed stock market
Twenty companies apply for listing in proposed stock market
(KPL) Twenty companies applied for listing in the proposed stock market of Laos, expected to commence operation by early next year and this was said by the President of Security Market Establishment Committee, Mr Dethphouvang Moularat.
He also said that he is confident that the Lao economy would recover by the time when the first stock market in Laos is poised to start to operate.
The stock market is now under construction and its site is in the 450th Year Road.
He also said that Laos decided to go ahead with the setting up of its stock market at a time when the global financial crisis is raging but he added by early next year there would be the beginning of an economic recovery in the world and this would be good for investor sentiment here.
Speaking about investment in Laos, he said that over the past years, foreign investors from Vietnam, China, Thailand, Malaysia, Russia, and France invested in Laos, especially in the hydropower construction and mining sectors.
The current year, he added is already a bumper year for investment, as for the first three months of this fiscal year, the government approved 40 investment projects worth US$1.1 billion and this figure exceeded the total sum approved for investment for 2008, which was US$650.
In connection with the setting up of mega projects in Laos, the stock market can play an important role for raising funds and its role is crucial in Laos as the local banks do not have the capacity to fund such big projects, he told the journalists.
(KPL) Twenty companies applied for listing in the proposed stock market of Laos, expected to commence operation by early next year and this was said by the President of Security Market Establishment Committee, Mr Dethphouvang Moularat.
He also said that he is confident that the Lao economy would recover by the time when the first stock market in Laos is poised to start to operate.
The stock market is now under construction and its site is in the 450th Year Road.
He also said that Laos decided to go ahead with the setting up of its stock market at a time when the global financial crisis is raging but he added by early next year there would be the beginning of an economic recovery in the world and this would be good for investor sentiment here.
Speaking about investment in Laos, he said that over the past years, foreign investors from Vietnam, China, Thailand, Malaysia, Russia, and France invested in Laos, especially in the hydropower construction and mining sectors.
The current year, he added is already a bumper year for investment, as for the first three months of this fiscal year, the government approved 40 investment projects worth US$1.1 billion and this figure exceeded the total sum approved for investment for 2008, which was US$650.
In connection with the setting up of mega projects in Laos, the stock market can play an important role for raising funds and its role is crucial in Laos as the local banks do not have the capacity to fund such big projects, he told the journalists.
