- History of Lao Securities Commission
After the Government of Lao PDR prescribed new comprehensively changed directions by mechanisms economic market to developing economic and build up Socialism in 1986, the financial sector of Lao PDR was developing gradually especially banking development. Banking systems were improved for divided roles and duties between the Central bank and Commercial bank. Accordingly 20 years past (1986-2006), a quantity and quality of commercial banks were expansion that could be fundraising thorough from general public and to lend for producing and service in the other area and sectors but that expansion is not enough for social demanding such as long-term fundraising for the large industrial development. Therefore, to comparing between theories lessons and international conducting, Lao people’s Revolutionary Party decided to set up internal market in comprehensive system to convince the businesses producing in revitalize extension and it’s defined in the VIII party committee congress (2006).
Regarding to the VIII party committee congress, government decided to create securities market establishment included in the seventh Five-Year Socio-Economic Development Plan (2006-2010). Preliminary government assigned the Bank of Lao PDR (BOL) to be main to research and prepare of securities market establishment. After that in 2006 BOL have created working group for drafting degree on securities and securities market while the government have sent high-ranking officials to visits and studies foreign experiences in securities market establishment such as Vietnam, Korea and Thailand.
And then the Steering Committee was establish the Securities Market Establishment Committee in order to be a secretariat for the Steering Committee in preliminary team consisting 10 members from the Bank of Lao PDR.
On 25th may 2009 the government decided to create the Securities and Exchange Commission by Decision of Prime Minister No: 051/PM to replace the old commission thereto.