Cambodia was about to start its own stock market, however it has been delayed yet again! And now the date for the launch of the same has been pushed all the way back to July 2011.

On Wednesday the finance ministry of the country said that they are having some technical glitches and issues due to which they have to delay this launch and the global economic crisis still remain a big concern for the Cambodia government.

The statement issued by the ministry was , “The postponement of the stock market is to adapt to the evolving situation of the global economic and financial situation, which shows some positive signs of recovery but is still fragile.” Last year it was reported that 2010 start would see the launching of a stock market but now it seems after the Prime Minister Hun Sen gives his official permission it would start on July 2011.

Cambodia is still a developing place; it mainly relies on the intensity of textiles business which also forms nearly 80% of the export business. Also there have been no foreign financial investors coming up as the country is tainted for its endemic corruption doing rounds.

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