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| A Cambodian man talks on his mobile phone behind a logo of the Cambodia Securities Exchange (CSX) during the inauguration ceremony of the CSX in Phnom Penh. (AFP PHOTO/TANG CHHIN SOTHY) |
11 July 2011
AFP
PHNOM PENH: Cambodia launched its long-awaited national stock exchange on Monday, aimed at boosting economic growth -- but trading is not set to start for months because of a string of delays.
During the opening ceremony for the exchange, Economy and Finance Minister Keat Chhon said the event was "an important historical day for the Cambodian financial sector" and a new source of "national pride".
"It clearly reflects that Cambodia has been moving forward to another stage of financial sector development," he said, describing the Cambodia Stock Exchange (CSX) as "a new instrument" for saving and investment.
Full operation will start before the end of the year, Keat Chhon said.
Cambodia signed an agreement to set up the stock market -- a joint venture between the government and South Korea's stock exchange -- in 2008 and planned to open it in 2009.
However, the launch date was pushed back twice due to the global downturn and regulatory hurdles.
The Korea Exchange, which has a 45 per cent stake in the CSX, has a similar interest in the recently-opened bourse of Laos.
Keat Chhon said three state-owned enterprises had been instructed by the government to work on listing their stocks for trading.
Last November, 15 securities firms were granted licences as underwriters, brokers, investment advisers and dealers to operate on the bourse.
Stock quotations for trading must be in local currency -- the riel -- only, the Securities and Exchange Commission of Cambodia (SECC) said in March.
But for the first three years, both buyers and sellers can arrange to settle payments in US dollars at their agreement, according to officials.
Cambodia has a long-term goal to reduce reliance on the greenback, which according to the Asian Development Bank makes up more than 90 per cent of all currency in circulation in the country.
While still among one of the world's poorest countries, Cambodia has emerged from decades of conflict as one of the region's rising economies.
Cambodia remains a largely cash-only economy and a high degree of mistrust means many people hoard their money at home instead of using banks.
16 comments:
As long as Hunsen regime is still in power where corruption is rampant and court is useless, I would not invest my money in Cambodia.
we can see you are a cruel and selfish person, ok! you don't understand the concept of making history because the stock market in cambodia is just now starting, so it will take time for it to become better and better, but if you gave up, then we see your true color; you are nothing other than selfish and cruel, you know!
Does anyone want to take a plunge with a corrupt regime. Me? No thanks. I'll keep my money somewhere else.
Cambodia is simply not ready for prime time just yet.
This is a joke, right?
there are two types of people in this world, the risk taker and the do nothing sits around all day cry foul all the time, so, it is your choice who you want to become, ok! doesn't mean everybody has to do like you, ok! imagine, no risk taker, the world would stand still i.e. no airplane, except oxcart and elephants rides like ancient times, really! you get it! don't be such a coward, ok!
really!
ok!
you know!
etc!
Screw you!,we CAMBODIAN's government doesn't need your money!,how much money do you have in your bank account?.People like you are useless,selfish and wasted!.you're living abraod,just for survival!,not like me in CAMBODIA,i sell only one hectar of my land!,i sleep,eat and enjoy my life with so many young girls for the rest of my fucking life.
shut up! i don't like sex anymore, now i use only dildo! who needs a man when i can use a dildo!
Just another way for the CPP vietcongs to transfer illegal funds from Cambodia to the communist Hanoi. And it is also a distraction to hide real issue with the CAmbodian people.
Cambodia people are being robbed in daylight!
អាពូកែចុយ 2:11 AM !
លក់ដីស់រាប់ចុយ តទៅមុខ....Vietcongs / Hanoi
នេះនីងចុយឪម៉ៃអាហែ្ហមមិនខាន....hahahahaha.
2:11 AM
Keep it up with your screwing, Vietcong, you will see your uncle Ho in hell soon.
really!
ok!
you know!
etc!
hahaha...
2:11 AM
The rest of your fucking life would probably be another month.
I enjoy seeing a Vietcong like you pissing off. :D
shut up! i don't like sex anymore, now i use only dildo! who needs a man when i can use a dildo!
2:19 AM
Masturbation is still considered sex.
If anyone from one of the 50 states is taking a plunge into this risky investment, I'd advise you not to do it, yet look somewhere else. I can't imagine invest money in a corrupt regime.
This is the biggest joke I heard so far from Cambodian government.
I wish Cambodia Stock Exchange every success.
Hopefully it will work for the good of the country.
And the International Stock Exchange Association must supervise the Cambodian Stock Exchange for its performance or Irregularities etc..
I'll lend 2 great Mekong catfish to put in the stock pond. I expect 500 lb fishes in 10 years. They must be fed Communist Vietnam leaders dead carcasses to get that weigh limit.
Gambler
I have money and I will fuck more Khmer girls to enjoy. Oh no, they are cheap
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