Activities on the Development of Capital Market in Myanmar
With a view to support the long term capital for economic enterprises, companies and investors, to efficiently protect the investments and contribute to the development and modernization of the state economy, the Capital Market Development Committee was organized on 1st July, 2008, led by the Union Minister for the Ministry of Finance and Revenue. Moreover, six sub-committees were formed on September 17, 2008, so as to provide effective and efficient assistance to main committee. These sub-committees are:
In addition, Road Map for the development of capital market in Myanmar has already been drawn up in accordance with the time frame for the development of ASEAN integrated Capital Market. There are three phases to be implemented in that Road Map. The first phase is from 2008 to 2009. The second phase is from 2010 to 2012 and the third phase is from 2013 to 2015.
As an implementation of the bond market development in Myanmar, the Central Bank of Myanmar has issued 2-year government treasury bond and kyat ten million denomination of treasury bond has been issued apart from current issued treasury bonds since 1st January 2010.
In order to develop efficient market infrastructure and trading market of the government bonds, Myanma Economic Bank (MEB) and Myanmar Securities Exchange Center Co., Ltd (MSEC) have been appointed as agents of the sale of the Government Treasury Bonds since January 2010. Moreover, secondary market trading is allowed since April, 2013.
Regarding the development of Bond Market, under the ASEAN Bond Market Initiative (ABMI) program, with the assistance from the Japan - ASEAN Fund for the Technical Assistance (JAFTA), the ASEAN Secretariat assigned the Daiwa Institute of Research (DIR) for the Technical Assistance. The technical assistance Phase 1 was implemented from June, 2011 to May 2012. The phase II was also implemented from june, 2013 to May, 2014.
In order to support for the Capital Market Development in Myanmar, The Japan Exchange Group, the Daiwa Institute of Research Ltd, the Policy Research Institute of Ministry of Finance, Japan, the Stock Exchange of Thailand, the Securities and Exchange Commission of Thailand and the Korea Exchange are providing the Technical Assistant for Myanmar Capital Market Development according to MoUs.
The Securities and Exchange Law is enacted during July, 2013.