LSX Commission takes stock of market developments

LSX Commission takes stock of market developments

Lao Securities Exchange (LSX) Commission President Mr Somsavat Lengsavad has urged commission members to develop a Law on Securities to facilitate growth of the stock market and share trading.

Mr Somsavat, who is also Deputy Prime Minister, made the call at the 9th conference of the LSX Commission held at the Bank of the Lao PDR in Vientiane yesterday, saying the law is a resolution of the National Assembly.

“The inaugural session of the 7th Legislature of the National Assembly approved a five-year national socio-economic development plan and a law development plan which includes a law on securities. This means we must translate the resolution into practice,” he said.

Mr Somsavat said that although the start of trading on the LSX earlier this year was a big step forward, there remain a number of challenges which the commission must address to ensure effective operation of the stock market and share trading.

The conference reviewed stock market operations and discussed possible solutions to various problems, as well as reviewing the performances of BCEL and EDL Generation since the two companies' listing on the exchange.

The conference also heard a report on the progress of Enterprise of Telecommunication Laos for listing on the exchange, as well as preparations by a number of other private and state-owned enterprises.

Meeting participants also approved action plans and projects for the commission to fulfil over the next five years.

vientiane times