Santiago F. Dumlao, Jr. l September 6, 2023 l Business Mirror
Part four
WHEN we mention capital market, it is the Philippine Stock Exchange (PSE) that we almost automatically have in mind because it is the most visible and popular representation of this market. The PSE is, after all, a pioneer financial institution where equities, the common shares of lead business companies, are listed and traded. Every business day, the price performance of these shares is posted. Profits and losses are made. More importantly, capital funds are raised in substantial amounts to keep businesses growing.
The PSE plays a very central role in capital market development quite obviously and so we are interested in what it is doing—beyond reporting the movement of stock prices. I share with my readers the PSE’s report last April on its ongoing initiatives and on its priorities for 2023-2025. These are the PSE’s commitments to the Capital Market Development Council.
PSE President Ramon S. Monzon underscores that “rather than focus primarily on investor protection, find the right balance on equally prioritizing initiatives that support the development and growth of the capital markets; create a flexible and collaborative environment to foster innovation in developing products and services while maintaining a proactive and conscious effort to address any deficiencies that may negatively impact investors and other market participants.”
A good point. Unfortunately, the mainstream media seem to find it more newsworthy to report about investment scams than investment promotion.
Never the mind, as some would say. We’re moving on and on the right track.
*** Santiago F. Dumlao is the Secretary General of the Association of Credit Rating Agencies in Asia and chairman of the market governance board and market policy committee of the Philippine Dealing & Exchange Corp. His views do not necessarily reflect those of the BusinessMirror’s.
