Emerging markets expert visits Laos

Emerging markets expert visits Laos

Mr Phouphet Khamphounvong ( second right ) welcomes Dr Mark Mobius ( left ) during his visit.

Arriving from Singapore, th e two visitors were hosted by Managing Director of KT ZMICO Securities Company Mr Pinit Puapan, whose company is a major shareholder of the BCEL-KT Securities Company Limited in Laos.

During his visit Dr Mobius met with Deputy Minister of Finance Ms Viengthong Siphandone, Governor of the Bank of the Lao PDR Mr Phouphet Khamphounvong, and senior officials from the Lao Securities Exchange (LSX) and the Securities Exchange and Commission Office (SECO), according to BCEL-KT Securities Company Limited.

The discussions focused primarily on the economic outlook of Laos and its capital market potential, as the nation seeks to raise funds in equities and bonds through its newly opened stock market, which is expected to grow considerably during the next five years.

According to the government, the Lao economy is expected to grow by 8.5 percent next fiscal year, as the government strives to achieve GDP of 69,927 billion kip (about US$8.6 billion). The industrial sector will be the main driving force behind the economic growth.

Dr Mobius also met with representatives of the first two companies listed on the LSX - EDL-Generation Public Company and Banque Pour Le Commerce Exterieur Lao Public Company – as well as officers from other corporations during his time in Vientiane last week.

The country's first stock market opened on October 10, 2010 and the official launching of trading took place in January this year.

Dr Mobius oversees more than US$40 billion worth of investments at Templeton Funds and is regarded by many in the finance industry as one of the most successful emerging markets investors over the last 20 years.

vientiane times