October 25, 2024
VIENTIANE – ASEAN nations have marked the 20th anniversary of the bloc’s efforts to enhance connectivity, sustainability and resilience across its capital markets.
The Lao Securities Commission Office and the Asian Development Bank (ADB) on Tuesday hosted an event in Vientiane to mark the 20th anniversary of the ASEAN Capital Markets Forum (ACMF).
The Forum is a high-level grouping of capital market regulators from all 10 ASEAN jurisdictions, established in 2004 under the auspices of the ASEAN Finance Ministers.
The primary responsibility of the Forum is to develop a deep, liquid and integrated regional capital market.
This year’s ACMF International Conference will continue to implement initiatives and development plans for the ASEAN capital market as a means to raise long-term capital in an integrated fashion.
Speaking at the event, Prime Minister Sonexay Siphandone noted that over the past 20 years the Forum has played an important role in increasing connectivity, creating sustainability, and strengthening capital markets in the ASEAN region.
“Although the capital markets in ASEAN countries are diverse and have different levels of development, since the establishment of the ASEAN Capital Markets Forum we see a joint effort to bring many achievements that have the greatest benefit to capital markets in the ASEAN region, including in Laos,” he said.
These include the improvement of market management across the region, establishment of the ASEAN stock market, creation of joint standards in information disclosure, issuing of cross-border investment units in ASEAN, and the formulation of standards for the issuing of green loan shares.
These have served to raise the role of ASEAN capital markets in the international arena, attracting both regional and international investment and support from development partners.
The Prime Minister said he was confident that cooperation and mutual support from the leadership of the ASEAN Securities Management Committee, development partners, and capital market stakeholders would result in the fulfilment of shared goals in carrying out important development tasks.
These efforts would enable ASEAN capital markets to be more effective, sustainable and interconnected, along with supporting the ASEAN Community Vision 2025 and future ASEAN Community visions, he added.
During the Forum, representatives of ACMF member countries discussed the capital market development vision, achievements under the strategic plan for 2021-2025, and the further direction of ASEAN capital market cooperation towards sustainable development.