Platform set for capital markets cooperation
The Securities and Exchange Commission of Thailand has initiated the platform for discussion on Mekong capital markets cooperation in a first meeting attended by heads of capital market policy makers and regulators in the region.
The next meeting is set for September 2013 with the State Securities Commission of Vietnam as the host.
"I was very pleased with the outcome of the meeting of heads of capital market policy makers and regulators in the mekong region. It reflected the shared visions and regional support toward the SEC Thailand's initiatives in building a network for mekong capital markets cooperation. I am confident that with active collaboration among Cambodia, Laos, Myanmar, Vietnam and Thailand, our regional capital markets would become the key driver for the mekong economic development process," said SEC Secretary-General Vorapol Socatiyanurak.
The February 8 session in Bangkok was attended by high-level figures from securities watchdogs from Laos, Myanmar, Vietnam and Laos. Together, they aimed to further enhance the roles of capital markets in contributing to economic growth and wealth of people in this region.
According to the SEC's statement, all members recognised the importance of effective cooperation and agreed to use this multilateral forum to facilitate policy discussion and further develop cross-border assistance. In addition, they agreed to create a regional database containing key capital markets information as a tool for market development and future cross-border collaboration. To mark the new era of the mekong capital market cooperation, a multilateral memorandum of understanding among the group will also be drafted.
Besides the discussion among heads and senior management, Bandid Nijathaworn, President and CEO of the Thai Institute of Directors Association, also raised awareness on corporate governance in the regional capital markets. David Grayson, co-founder & CEO of Auerbach Grayson & Company, a New York based global stockbroker specialized in emerging markets investment, shared insightful thoughts on how the mekong capital markets could attract more global funds.