Date
24 May 2017
Myanmar hopes foreign investment will help boost its economy. Photo: AFP
Myanmar hopes foreign investment will help boost its economy. Photo: AFP

Myanmar to open stock exchange in December

The Yangon Stock Exchange will begin trading in early December, Myanmar’s deputy finance minister said.

A few months after that, the poverty-stricken Southeast Asian country will open to foreign investors one of the world’s last untapped frontier markets, Maung Maung Thein said Tuesday.

“We expect to launch in the first or second week of December,” he told The Wall Street Journal.

The opening, originally expected this month, was postponed until after national elections due Nov. 8.

Despite the political uncertainty, the deputy minister said he is confident the launch of the stock exchange won’t be derailed.

“Whoever wins will not demolish the free-market economy that we’re practicing now; whoever wins will not destroy the democratic institutions,” he said.

Myanmar has been slowly moving from a centrally planned to a market economy since the former military junta stepped down in 2010.

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