As Cambodia prepares itself for its first stock market, a stack of new Khmer-language books on the subject have entered bookstores to illuminate Cambodians about how to make money on the security exchange.
“Cambodians are getting aware that Cambodia will launch a stock market,” said Hash Veasna, a researcher who is writing his fifth book on the topic: “How Does the Stock Market Work?”
Hash Veasna, who has published two editions of a dictionary on the securities market, has also authored “What is a Bond Market?,” “What is a Stock Market?,” and “Towards the Establishment of a Stock Market in Cambodia.”
The books are being published as the government and its partner in the stock exchange, the Korea Exchange, attempt to educate Cambodia on the benefits of a bourse, said In-pyo Lee, the Phnom Penh-based project manager for the Korea Exchange, which operates the stock market in South Korea.
“It’s positive that he is starting to write in Khmer in the Cambodian world,” he said.
More than 200 people in the business community have already taken two-week courses on the stock exchange hosted by the Ministry of Finance, In-pyo Lee said, but there is still much work to be done.
“It will take four or five years for people to get use the idea of stocks and bonds,” he said.
The securities market is scheduled to open by year’s end, but officials have said that it could be delayed into 2010.
Hash Veasna said he became interested in the stock exchange 10 years ago as a student and worked in 2007 on contract for the Ministry of Finance on the stock market project. He now works for Soma Group, a construction firm, as financial operations manager.
So far he’s only printed 1,000 copies in total of all of his books and said more classes in universities will need to be taught on the subject.
“People are now getting aware of this material, and this will continue as the economy changes.”