Foreign
THE United Nations Capital Development Fund (UNCDF) has signed a Memorandum of Understanding (MoU) to help develop Cambodia’s securities sector, said a joint press statement released on Friday.
The MoU was signed between UNCDF Executive Secretary Preeti Sinha and Sou Socheat, director general of the Securities and Exchange Regulator of Cambodia (SERC), as well as Hong Sok Hour, chief executive officer of the Cambodia Securities Exchange (CSX).
The statement said under the deal, the UNCDF would provide technical assistance to the SERC and the CSX for promoting the development of the securities sector in the Southeast Asian nation.
The UNCDF will provide support for the implementation of institutional capacity development and human capacity development,” the statement said, adding that it would also support the development and regulation of new transboundary products.
“ It would also facilitate south-south exchange and peer learning between the SERC and the CSX and similar regulatory institutions in ASEAN (the Association of Southeast Asian Nations) plus China, Japan and South Korea.
“The UNCDF will also provide support to the SERC and the CSX for further development, adoption, and implementation of related frameworks and laws pertaining to sovereign and non-sovereign securities,” the statement said.
Launched in 2012, the CSX is a joint venture between the Cambodian government holding 55 per cent of stakes and the Korea Exchange owning the remaining 45 per cent.
According to Sok Hour, the CSX has so far received a total of 16 listed companies, including nine equity firms and seven corporate bond firms, collecting a total capital of more than 280 million U.S. dollars.
To date, some 31,000 investors have opened trading accounts at the CSX, he said, adding that about 10 per cent of them are foreign investors. (Xinhua/NAN)
KN
Tags: Cambodia’s stock exchange Hong Sok Hour UNCDF
