Thursday, 3 July 2014

Myanmar to introduce capital market for economic growth

Myanmar's ministry of finance will shape a capital market in the country after joining the Financial Services Agency (FSA) and the Japan International Cooperation Agency (JICA), official media reported Wednesday.

The development of capital markets depends on the Yangon Stock Exchange, which is expected to come into practice in 2015, Xinhua reported citing the New Light of Myanmar, which quoted Deputy Minister of Finance Maung Maung Thein as saying at a meeting at his office in the country's capital, Nay Pyi Taw.

At the meeting Tuesday, Tatsushi Terada, deputy secretary-general of the Financial Services Agency, pledged that Japan would share its experience in stock exchanges with Myanmar so that the country could boost its economy through capital markets.

Myanmar enacted the Securities and Exchange Law in July, 2013, and plans are underway to enact related rules and regulations.

In 2012, a memorandum of understanding on Japan's technical aid for the development of the capital market was signed between the Central Bank of Myanmar and the Daiwa Research Institute and Tokyo Stock Exchange in Nay Pyi Taw.

source: Business Standard
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