Yangon Stock Exchange to open in two years - Deputy Minister

The Yangon Stock Exchange (YSE) will open in two years based in the former headquarters of Myawaddy Bank in Yangon, according to the deputy minister for finance.

"We went there to see the location along with Japanese investors. Ground floor and first floor will be rented for the exchange," said Deputy Minister Maung Maung Thein.

The Yangon Stock Exchange will be part of the capital market which will open in two years, he added. A committee has been formed to create the exchange and capital market which is expected to coincide with the opening of the ASEAN Economic Community (AEC) in 2015.

"Technical preparations are under way for the exchange to be opened before the AEC. The committee has to teach local companies to have transparency," he said.

Currently, Myanmar has more than 100 public companies, among them only a few are qualified for listing on the exchange, according to the deputy minister.

A joint venture with Japan's Daiwa Company will be formed soon for the exchange which will have initial capital of Ks 32 billion.

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/4382-yangon-stock-exchange-to-open-in-two-years-deputy-minister