Thai Bourse Strengthens Relations With the Lao Securities Exchange
The Stock Exchange of Thailand (SET) and Lao Securities Exchange (LSX) signed a memorandum of understanding (MOU) to encourage and promote the securities business of the Lao Securities Exchange.
“This cooperation is part of the SET’s strategy to build alliances and strengthen capital markets in Indo-China. The SET has continued supporting the establishment of the Lao Securities Exchange (LSX) since 2008, especially by developing the capital market expertise of the exchange’s personnel, securities business professionals, investors, and other market participants. It is a deep honor for the Thai exchange to be the first entity to sign a MOU with the Lao Securities Exchange, right after its inauguration on October 10, 2010,” said SET President Charamporn Jotikasthira.
“Signing the MOU not only showed the good relationships between the exchanges in the region, it was also an important opportunity for celebrating the 60th anniversary of diplomatic relations between our countries,” said Mr. Charamporn.
“The MOU signing between SET and LSX showed the desire of both parties to continue working together. The second MOU will allow for two more years of cooperation, which is very important to us, as we are now establishing the LSX.
Such a formation now is at an appropriate time and in accordance with the Lao and global current economies,” noted LSX Chairman and Chief Executive Officer Dethphouvang Moularat.
This 2-year MOU will cover setting up the Lao capital market, and carries over from the one signed on July 7, 2008. Under this new MOU, the SET will train LSX personnel, hold Certified Modern Investment Professional courses for securities professionals, including establishing the Lao Capital Market Institute to develop financial and investment expertise for Lao securities professionals, investors, students and the general public. Moreover, the current MOU will promote business opportunities between the two exchanges involved and their
listed firms, as well as dual listings.
To help commemorate MOU signing, the SET organized a talk on “How the stock exchange helped us grow: First-hand experiences of Thai entrepreneurs” to enhance knowledge of listing prospects with growth potential and the need for capital to expand. The Lao government will encourage candidates to list on the Lao bourse. Two top executives of SET-listed firms shared their insights with seminar participants: Siam Global House PCL CEO Witoon Suriyawanakul and Sabina PCL CEO Bunchai Punturaamporn. The SET also gave SET corners to the LSE and National University of Laos to promote investment expertise.