Myanmar plans stock mart

Myanmar plans stock mart

YANGOON (UPI): Myanmar will soon set up a stock exchange here in cooperation with a Japanese securities firm, and necessary legislation is now in the process of preparation reports said Saturday.

The intent was disclosed by Planning and Finance Minister Brig. Gen. Win Tin a day earlier in opening the seminar on capital markets here, attended by senior government officials, Burmese businessmen and members of the banking community.

Necessary arrangements are being made to establish a stock exchange in the very near future in cooperation with Japan's Daiwa Securities Ltd., the minister said.

He added that Daiwa has already trained relevant Myanmarese officials, and a draft of the Myanmar Securities and Stock Exchange Law has been submitted to the attorney-general for vetting.

He said the central bank of Myanmar started issuing 3- and 5- year treasury bonds in December 1993 as a step toward setting up a capital market in Myanmar.