A committee to look into establishing a capital market in Myanamr will be set up this year according to officials from the Ministry of Finance.
Myanmar has recently opened up its
economy to foreign investment as the country began a transition from
military dictatorship to civilian government in 2011. It is now seeking
to establish a capital market with the help of Japan’s Daiwa Institute
of Research.
"We will try to bring about a capital
market during this year. This market is very important for the country’s
economic development. Having a capital market will enable the
entrepreneurs to get access to wider sources of finance," said Dr Maung
Maung Thein, deputy minister for finance at a workshop in Yangon on
Myanmar’s future in finance and banking.
The committee's role is to firstly set
up necessary infrastructures after which it will educate the public
about the capital market, and the listing requirements for public
companies, the deputy minister said.
"As this is a very important task, we
shouldn’t be hasty. Nor should we wait until we have everything we need.
We will have to start from what we have now. Then, we will gain
experience and will try our best to improve our work," added Dr Maung
Maung Thein.
Myanmar is also preparing to establish
the country’s very first stock exchange in 2015 with the help of Tokyo
Stock Exchange. It has passed the Security Exchange Law on July 31 as
the first step towards bringing about a capital market.
source: Eleven Myanmar
No comments:
Post a Comment