CAMBODIA OP/ED: Ready for own stock market?

Source: Telegraph 

Quoted from adbi e-newsline

"Capital markets can be vital tools of development, helping the better companies in poorer countries to get access to the money they need to grow, creating wealth and employment in the process. However, given the fragile nature of stock markets, it is important that countries don't run before they can walk. Which is why Cambodia's decision to press ahead with the launch of its own stock exchange next year is slightly concerning. 

Whatever you think, you have to commend the Cambodian government's resilience in sticking to its plans for a 2009 launch, despite the ongoing global turbulence. Although a stock market offers long-term benefits such as a cheap place to raise capital, the problem across the developing markets of Southeast Asia is the pre-dominance of short-term speculators."