The Lane Xang Securities Company, a joint venture between the Lao Development Bank (LDP) and Vietnam’s Sacombank Securities Joint Stock Company (Sacombank SBS), was inaugurated in Vientiane on the evening of March 25.
The joint venture has a charter capital of 100 billion kip.
The company’s President, Vilaymit Ackhavong, said at the inaugural ceremony that Lane Xang aims to provide accurate and timely information, develop modern technology for customer service, and receive, send, pay and transfer securities as stipulated by the local committee for stock market management.
The creation of Lane Xang will help develop Laos in phases and strengthen the special ties between Vietnam and Laos.
The inaugural ceremony was attended by Lao Deputy Prime Minister Somsavad Lengsavath, Lao State Bank Governor Phouphet Khampounvoung, and Vietnamese Ambassador to Laos Ta Minh Chau.
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