Foreigners allowed in stock sale on the Yangon Stock Exchange

Foreigners allowed in stock sale on the Yangon Stock Exchange
The seven-year celebration of the YSX
The seven-year celebration of the YSX
Published 29 March 2023
EMG

The foreigners are allowed to participate and sell stocks in the Yangon Stock Exchange (YSX), said U Maung Maung Win, Deputy Minister of Planning and Finance and chairman of the Myanmar Securities and Exchange Commission.

"YSX's seven years of progress have started with one listed company and now there were seven listed companies and six certificates of securities companies. Now, stocks can be traded online as well, with buyers and sellers. Investors can trade shares on their behalf. Foreigners are also allowed to participate in sales. They can buy the shares of listed companies of their choice. We established pre-listing board for public companies especially SMEs and MSME businesses which are smaller in size than the main board to register to the listed company. MSME businesses can make sales. The state has reduced corporate income tax for the listed companies. In the future, we will also introduce the corporate bond market," said U Maung Maung Win.

In 1996, Myanmar Securities Exchange Center, the brainchild of the capital market, is cooperated with Japan and sold stock exchange shares, according to records.

The Capital Market Development Committee was established in 2008, and the Securities Industry Supervisory Commission was established in July 2013 to exchange and trade certificates of securities.

The law and regulations to enforce certificates of securities were enacted in 2015.

The seven-year celebration of the YSX was held on March 25 at the Park Royal Hotel in Yangon.

The companies currently listed on the YSX are First Myanmar Investment (FMI), Myanmar Thilawa SEZ, Myanmar Citizens Bank (MCB), First Private Bank, TMH Telecom Co., Ltd., Ever Flow River Co., Ltd. and Amata Holding Co., Ltd.