Logo of Phnom Penh Post newspaper Phnom Penh Post - SECC and CCC ink MoU to promote securities sector

SECC and CCC ink MoU to promote securities sector

Content image - Phnom Penh Post
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.

MOST VIEWED

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Ice cream, noodles flagged over carcinogen

    The General Department of Customs and Excise of Cambodia (GDCE) has identified three types of instant noodles and ice cream trademarks originating from Thailand, Vietnam and France that are suspected to contain ethylene oxide, which poses a cancer risk to consumers. The general department has

  • Exclusive interview with Josep Borrell Fontelles, High Representative of the EU

    CAMBODIA is hosting the 55th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings this week with top officials from the US, China, and Russia and other countries in the region slated to attend and to meet with face-to-face with their counterparts on the sidelines. In

  • Rise in Thai air routes to Siem Reap fuels travel hopes

    Local tourism industry players are eager for regional airline Bangkok Airways Pcl’s resumption of direct flight services between the Thai capital and Siem Reap town on August 1 – home of Cambodia’s awe-inspiring Angkor Archaeological Park – which is expected to boost the growth rate of

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’