Written by Admin on July 20, 2013. Posted in Business, News
Myanmar is hoping for its first-ever stock exchange by the end of this year as it awaits approval of the security exchange law by the parliament, ChannelNews Asia reported.
Myanmar will emulate the models of Japan and Singapore stock exchanges, the Singapore-based cable news network reported.
The country's first stock exchange will initially list local public firms before listing the foreign firms, says the report which cited Myanmar finance minister Dr Maung Maung Thein.
According to the report, less then one-third of about 70 local companies will be qualified for listing at the stock exchange.
The government has decided to set up the stock exchange at the former central bank building in downtown Yangon.
The report predicted that the task to establish the stock exchange would be challenging for the country which lacks experienced workforce in banking industry.
http://www.information.myanmaronlinecentre.com/myanmar-sets-to-establish-stock-exchange/
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