PHNOM PENH, Aug. 7 (Xinhua) -- The Cambodian government has told entrepreneurs to prepare their financial reports for audit to pave the way for opening stock market in 2009, an official said on Tuesday.
Ngy Tayi, under-secretary of state of the Ministry of Economics and Finance, said that about 400 companies, which have current asset over 500,000 U.S. dollars and have over 100 employees, have the obligation to prepare the financial reports.
The audit is a new step to promote the management climate of stock market and it also shows transparency, accountability and fairness in opening the stock market, he told a press conference here on promotion of the financial reports for audit.
The stock exchange market will improve the investment climate here and it can help accelerate the economic growth of the country, he added.
Cambodia is set to establish a limited stock market in 2009, Prime Minister Hun Sen said in June, adding that this would encourage long-term investments by the public.
Ngy Tayi, under-secretary of state of the Ministry of Economics and Finance, said that about 400 companies, which have current asset over 500,000 U.S. dollars and have over 100 employees, have the obligation to prepare the financial reports.
The audit is a new step to promote the management climate of stock market and it also shows transparency, accountability and fairness in opening the stock market, he told a press conference here on promotion of the financial reports for audit.
The stock exchange market will improve the investment climate here and it can help accelerate the economic growth of the country, he added.
Cambodia is set to establish a limited stock market in 2009, Prime Minister Hun Sen said in June, adding that this would encourage long-term investments by the public.
