Myanmar to introduce capital market for economic growth

The Myanmar Ministry of Finance will shape a capital market in the country after joining the Financial Services Agency (FSA) and the Japan International 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, said the New Light of Myanmar, quoting Deputy Minister of Finance Dr Maung Maung Thein as saying at a meeting at his office in Nay Pyi Taw.

At the meeting on Tuesday, Tatsushi Terada, deputy secretary- general of Financial Services Agency, pledged Japan will share its experience on stock exchange with Myanmar so that the country can 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.