Thursday, 8 May 2014

Japan to assist Myanmar setting up Yangon Stock Exchange

Japanese Ministry of Finance's research team, Tokyo Stock Exchange and Myanmar's Ministry of Finance will together draft rules and regulations for Yangon Stock Exchange, said Dr Maung Maung Thein, deputy minister for finance.

He added that Japanese Ministry of Finance will also help to draw the regulations for Stock Exchange Commission (SEC).

"We have prepared step by step to establish the SEC. Its rules and regulations are laid down by the Japanese Ministry of Finance. For Yangon Stock Exchange, the research team of Japanese Ministry of Finance, Tokyo Stock Exchange and we will together draw rules and regulations," said Dr Maung Maung Thein.

For the establishment of Yangon Stock Exchange, Myanmar and Japan have planned an initial joint investment of Ks 32 billion (US$ 32 million). The ownership ratio of the joint venture is set at 51:49 per cent with Myanmar holding the majority.

Therefore the country is required to contribute Ks 16.31 billion (nearly US$17 million) in the initial investment outlay.

Japan's proposal for setting up Yangon Stock Exchange has been submitted to the Attorney-General's Office. Upon approval, the government will then unveil it.

source: Eleven Myanmar
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