Laos plans to form its stock market next year, which will fully function as a modern bourse by 2010, Lao newspaper Vientiane Times reported Monday.
The Bank of Laos, the country's central bank, is drafting a government decree on stock market management, holding relevant seminars, and training officials who will work for the future bourse, the newspaper quoted the bank's governor Phouphet Khamphounvong as saying.
"If the government approves the draft decree, expected next month, we will be able to publicize it so that companies can adapt to a new situation enabling them to buy and sell shares," he said, noting that the future stock market would not be as modern as in foreign countries.
The government plans to establish a stock exchange with full functions by 2010. The local bourse will start operating next year under the management of the bank, and eventually become an independent entity.
According to many Lao officials and business people, Laos should equitize a number of state-owned enterprises, including Lao Airlines to supply shares to the future bourse, said the newspaper.
