Regional pact for capital market development

Corporate July 21, 2014 00:00


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CAPITAL MARKET leaders from Cambodia, Laos, Vietnam and Thailand have signed a pact to boost regional cooperation on capital-market development.

Representing Thailand, Vorapol Socatiyanurak, the secretary-general of the Securities and Exchange Commission, said that Myanmar might join the pact later once its regulatory body was established.

A memorandum of understanding was signed at the Mekong Capital Markets Cooperation (MCMC) conference in Pattaya, where representatives from all five countries convened.

“I’m deeply pleased with the countries’ support of the MCMC,” Vorapol said.

The SEC played a major role in initiating the regional cooperation. The MCMC will convene every two years and each country will host the event on a rotating basis. The next meeting will take place in Cambodia and will be hosted by the Securities and Exchange Commission of Cambodia.

At the MCMC in Pattaya, regulators discussed the pillars for sustainable success and touched on the need to upgrade rules and regulations, develop mutual funds, and improve good governance.