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SECC and CCC ink MoU to promote securities sector

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The signing ceremony was held at the CCC on Friday and presided over by CCC president Kith Meng (left) and SECC director-general Sou Socheat. SECC

SECC and CCC ink MoU to promote securities sector

The Securities and Exchange Commission of Cambodia (SECC) and the Cambodia Chamber of Commerce (CCC) have signed a Memorandum of Understanding (MoU) to raise awareness and promote investment in the securities sector.

The signing ceremony was held at the CCC on Friday and presided over by SECC director-general Sou Socheat and CCC president Kith Meng.

Socheat said in a statement that the MoU was aimed at creating cooperation and raising awareness of the securities sector for commercial enterprises to be able to seek financing through the securities market.

It also seeks to promote investment in the sector through the active participation of local private investors, he said.

“The signing of this MOU indicates that many commercial enterprises in Cambodia are interested in the securities market and ready to list, raise capital and trade, and it shows the confidence of CCC member companies in the market,” said Socheat.

Meng said the MoU will help raise awareness among CCC members and better prepare them to actively participate in the securities sector.

“This is an opportunity for CCC members to seek financing from the Kingdom’s securities market, as well as to reinforce their management, adaptability and corporate governance,” he said.

The SECC is adjusting the requirements for licensing and business management of derivatives trading in Cambodia to increase the attractiveness of public trading and control the market more effectively.

This adjustment will reduce the requirements on licensing and capital for derivatives brokerage firms, the SECC said in a press release last week.

The trading volume of derivatives in Cambodia increased from $84 million in 2018 to $200 million last year, SECC data shows.

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