Laos learns from Thailand on opening up stock market to Asean
Laos learns from Thailand on opening up stock market to Asean
Laos is seeking to learn from the experiences of Thailand to inform the integration of its stock market with the regional economic community.
The two countries shared information at a seminar hosted by the Lao Securities and Exchange Commission Office (SECO) in collaboration with the Thai Securities and Exchange Commission (SEC), held on December 18 at the Banking Institution in Vientiane.
The keynote lecture was by Thai SEC's International Department Director, Mr Pariya Techamuanvivit.
Officials from Bank of the Lao PDR, government ministries, Lao SECO and various companies and securities firms were also there.
The aim was for Lao financial institutions to become better informed about the importance of integrating its market systematically and in a way that is compatible with the criteria of the Asean Capital Market, providing room for fiscal products and encouraging investment.
Secretary General of Lao SECO, Ms Vatthana Dalaloy, said the cooperation between Lao SECO and Thai SEC was possible thanks to a memorandum of understanding the two organisations signed in 2011.
Thai SEC has been supporting Lao SECO with technical knowledge sharing and human resource development.
“There ar e many benefits to being a member of the Asean Capital Market such as valuable know-how brought in by foreign securities firms, the availability of good foreign financial products for Lao investors, c apital inflow to Laos and so on,” Ms Vatthana said.
“If Laos would like to be a member of this market, there are many things that we have to deal with.”
There are three countries currently looking into opening on the Asean Capital Market: Singapore, Malaysia and Thailand.
Integration with the Asean market woul d make cross-border investment easier, increase trading competition, increase the choices of stock investors and enable those investors to move funds comfortably to profitable markets in othe r Asean countries.
Mr Pariya said the Asean Capital Market would make investment more efficient and lower cost both domestically and internationally.
He also said the Asean Capital Market had the potential to make the region's financial system an equivalent of developed markets overseas.
There are eight countries in Asean with government-regulated markets: Singapore, Malaysia, Thailand, Philippines, Indonesia, Vietnam, Laos and Cambodia.
vientiane times
