Myanmar to allow foreign investors to list in first stock exchange
Myanmar is finalising regulations to allow foreign investors to join the Yangon Stock Exchange (YSX), and allow joint ventures with the involvement of foreign companies to list.
Illustrative Image (Source: AP) According to the chair of the comission Maung Maung Win, once the Myanmar Companies Act is passed, an appropriate number of joint ventures will be permitted to post their stocks, while foreign institutions will be invited to invest to increase market liquidity.
Earlier last month, the US lifted its sanctions on Myanmar, including those on the state-owned Myanmar Economic Bank, which owns a majority of the YSX’s shares, clearing the way for US banks and individuals to do business with the exchange.
The YSX, the first exchange in Myanmar , was set up in December last year with six listing companies, two insurance firms and one bank. However, the first transaction was made on March 25.
According to a deal signed in December 2014, the Myanmar Economic Bank holds 51 percent of the exchange, while the Japan stock exchange and Japan ’s Daiwa Securities Group contributed 49 percent.
Meanwhile, the Myanmar Government is planning to form a national investment committee to assess and approve large-scale projects nationwide in June.
In the 2015-2016 fiscal year, Myanmar passed a number of projects worth a total of 9.4 billion USD, the highest figure since 2010, peaking in March when total investment reached 4 billion USD.-VNA
You should also see
PM hosts Chairman of Russian Federal Bar Association
Prime Minister Pham Minh Chinh spoke highly of cooperation between the Russian Federal Bar Association (RFBA) and the Vietnam Lawyers’ Association (VLA) while receiving RFBA Chairman Sergey Stepashin, who is also former Prime Minister of Russia, in Hanoi on April 23.
See more
World
Thailand re-considers tourism tax
Thai tourism operators are urging the Thai government to seriously consider measures to tackle overtourism. One of the proposed measures is a tourism tax of 300 baht (8.11 USD).
World
Ten crew members killed after two Malaysian navy helicopters collide
Ten people have died after two navy helicopters collided in mid-air during a military rehearsal for a Royal Malaysian Navy parade.
World
Indonesian Constitutional Court rejects petitions against presidential election results
The Indonesian Constitutional Court on April 22 rejected all petitions regarding the country’s presidential election results filed by two presidential candidates - Anies Baswedan-Muhaimin Iskandar and Ganjar Prabowo-Mahfud M.D.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Malaysian official urges collective efforts in plastic waste fight
A Malaysian official has underlined the importance of collective efforts, particularly by the public, in promoting the use of reusable bags and reducing single-use plastics in the fight against plastic waste.
