SEC Chief Seeks Industry Support to Bolster Capital Markets

Securities and Exchange Commission (SEC) chairperson Francis Lim is seeking the support of the country's top finance executives to help boost the Philippine capital markets.

- By Richmond Mercurio

Speaking at the Financial Executives Institute of the Philippines (FINEX) 8th general membership meeting, Lim said that a vibrant capital market fuels infrastructure, empowers small businesses, drives innovation and transforms growth into shared prosperity.

Unfortunately, he said the country's capital markets have fallen behind.

"For example, Vietnam, whose stock market is much younger than ours, has outranked us in terms of the number of listed companies, market capitalization and stock market value turnover. Of course, Singapore, a much smaller country but whose capital market is known for its integrity, is far ahead of us," Lim said.