By Susan Postlewaite
Phnom Penh Post, Issue 16 / 26, December 28, 2007 - January 10, 2008
Phnom Penh Post, Issue 16 / 26, December 28, 2007 - January 10, 2008
Acleda Bank delivered a New Year's surprise Thursday, announcing it obtained permission from the government of Laos to open a commercial bank there in 2008.
Officials of Acleda called the expansion to Laos just the first of a regional expansion. Investment in other countries is likely to come.
Lao PDR has one of the most underdeveloped economies in Asia, but like Cambodia, its finance and banking sector is developing and it is working with help from the Korea Exchange to set up a stock market. The stock market is expected to open in 2010, a year after Cambodia's stock market, with state run companies listing.
Officials of Acleda called the expansion to Laos just the first of a regional expansion. Investment in other countries is likely to come.
Lao PDR has one of the most underdeveloped economies in Asia, but like Cambodia, its finance and banking sector is developing and it is working with help from the Korea Exchange to set up a stock market. The stock market is expected to open in 2010, a year after Cambodia's stock market, with state run companies listing.
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