Cambodia will establish a limited stock market in 2009, Prime Minister Hun Sen said on Thursday, adding that this would encourage long-term investments by the public.
The Cambodian government is currently finalizing draft legislation on corporate bonds, which aims to establish a capital market in this country in 2009, Hun Sen said at a financial sector development symposium.
The introduction of a financial market is very important, he said, adding that it can help to mobilize the Cambodian people's savings and channel them into long-term investments in social, economic and infrastructure projects.
Cambodian finance sector is expanding, with new bank loans and deposits increasing by around 40 percent, setting the stage for further development, the International Monetary Fund (IMF) said earlier this week.
In April, Cambodia was assigned its first-ever sovereign debt rating by the credit rating agency Standard and Poor's, which said the country's outlook was stable.
The B+ rating is below investment grade status, restricting many institutional investors, but it is the first step in Cambodia's bid for economic respectability.
Source: Xinhua
The Cambodian government is currently finalizing draft legislation on corporate bonds, which aims to establish a capital market in this country in 2009, Hun Sen said at a financial sector development symposium.
The introduction of a financial market is very important, he said, adding that it can help to mobilize the Cambodian people's savings and channel them into long-term investments in social, economic and infrastructure projects.
Cambodian finance sector is expanding, with new bank loans and deposits increasing by around 40 percent, setting the stage for further development, the International Monetary Fund (IMF) said earlier this week.
In April, Cambodia was assigned its first-ever sovereign debt rating by the credit rating agency Standard and Poor's, which said the country's outlook was stable.
The B+ rating is below investment grade status, restricting many institutional investors, but it is the first step in Cambodia's bid for economic respectability.
Source: Xinhua
2 comments:
hun sen is crazy always crazy
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