PHNOM PENH, Jan. 28 (Xinhua) -- Cambodia's Securities Exchange (CSX) on Monday broke ground for the construction of a 3-storey building in the heart of Phnom Penh, the country's capital.
"The construction of the building reflects the government's firm stance in developing the stock market and the building will build more confidence among both local and foreign investors in the CSX," Cambodian deputy Prime Minister and finance minister Keat Chhon said at the groundbreaking ceremony.
The building will cost 4 million U.S. dollars and the construction will be completed in early 2014, he said.
It is located near the capital's historical site Wat Phnom in Duan Penh district.
In the original plan in December 2009, the country announced to build the CSX building in a South Korea-invested Camko City on the outskirts of Phnom Penh.
"The government has decided to cancel the plan to construct the stock market building at the Camko City because it is a bit far," Hong Sok Hour, CSX's general director, told Xinhua over telephone. "The new location is in the heart of the city and is in the financial area."
The CSX was officially launched trading on April 18, 2012 at a temporary office at the Canadian Tower. To date, only one state- owned enterprise, Phnom Penh Water Supply Authority, has listed on the stock market.
The CSX was initiated by the Korean Exchange in 2007. It is a joint venture between the government of Cambodia holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent.