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Laos stock market to open in 2008 |
Land-locked Laos plans to open a stock market by next year in
Vientiane, state radio reports said Tuesday.
Laos' central bank governor Phouphet Khamphounvong said a stock
market was necessary for the long-term investment climate of the
country, said Radio Vientiane in a broadcast monitored in Bangkok.
The Lao bourse will initially be under central bank management
before becoming fully independent in 2010.
Laos, a land-locked country half the size of France, has been under
communist rule since December 1976.
A former member of the Soviet bloc, the South-East Asian nation
with a population of less than 6 million was forced to open up to
foreign investment and liberalize trade in the late 1980s after the
Soviet Union's collapse.
There are few large-scale private enterprises in Laos, other than
foreign investments in mining and hydro-electriticy projects.
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