The Securities and Exchange Regulator of Cambodia (SERC) is set to authorise the establishment of joint venture funds in the first quarter of this year ending March 31, as the underlying regulatory framework nears completion, paving the way for licensed companies to raise money for investment projects.

SERC director-general Sou Socheat told The Post on February 6 that his institution has conducted several public consultations with stakeholders to obtain additional feedback and input to design a comprehensive prakas that can be applied effectively.

“This will be additional regulation for the joint venture market, … allowing [licensed companies] to issue these funds,” he said, affirming the first-quarter target.

“Once these regulations come into force, licensed companies will start operating these funds immediately, which will have many benefits for all sectors,” he added, confirming that joint venture funds will generally be authorised across all sectors.

Long Pisak, CEO of FI Vision Capital Plc, a company that claims to focus on long-term investments in real estate and debt-finance, hailed the development as a viable way for certain licensed firms to support their businesses.

“I welcome the launch, so that licensed companies can start raising funds to jointly invest in projects that will contribute to national economic development and create jobs as well,” he said.

The SERC’s Socheat disclosed that more than 10 companies hold the licences authorising them to establish these funds.

“They’ll be able to start providing us with information as set out in the draft prakas, and once they’ve approved the press releases on the establishment of the fund, they’ll be able to begin the process, in accordance with the procedures set out in the document,” he said.