MANILA, Philippines - The Philippine Chamber of Commerce and Industry (PCCI) and Philippine Stock Exchange (PSE) have signed a memorandum of understanding to develop and initiate programs that would support the development of the country’s capital market.
PCCI president Miguel B. Varela and PSE CEO Hans B. Sicat signed the MOU, on the sidelines of PCCI’s general membership meeting last May 29 2013 in Dusit Hotel.
The MOU among others, would institutionalize a capital market development committee in PCCI which would be co-chaired by PCCI and PSE officials.
The committee would spearhead a nationwide Stock Market Awareness Program for prospective investors and listing for PCCI SME member companies into the SME Board.
“This MOU is an important step to address the limited number of SMEs that are in the stock market and help attract and encourage more companies to list and remove the misconception that the stock market is only for the big companies,†Varela said.
Furthermore, the committee would enable cooperation between both organizations in advocating policy and regulatory reforms that would harness the competitiveness of the country’s capital market.
PCCI chairman Ambassador Alfredo Yao, ECOP president Edgardo Lacson, PCCI honorary chairman Dr. Francis Chua, PSE COO Roel Refran, PCCI committee chairman Ferdinand Diaz and PCCI secretary general Crisanto Frianeza witnessed the signing of the MOU.