Jan 22, 2013
January 10th 2013 - The Stock Exchange of Thailand (SET) recently signed a memorandum of understanding (MOU) with the Central Bank of Myanmar (CBM) to assist in setting up a stock exchange in Myanmar and to promote capital market business opportunities.
Charamporn Jotikasthira, SET President, said that this MOU between SET and CBM is an important milestone formalizing capital market collaboration between the two countries. The MOU will provide a foundation for promoting capital market business opportunities and enhancing the growth of Myanmar's economy through
capital market development.
"As envisaged in the MOU, the Stock Exchange of Thailand stands ready to work with the Central Bank of Myanmar towards the establishment of a stock exchange and capital market in Myanmar, especially through exchanging of information on market operations, regulatory arrangements, trading and post-trading systems,
promotion of listing companies, and capital market education. In addition, we also look forward to exploring possibility for setting up joint-venture securities companies in Myanmar and the establishment of a concrete roadmap for education programs for Myanmar investors, listed companies, and market
professionals", said Charamporn.
U Than Nyein, Governor of the Central Bank of Myanmar, said that CBM is delighted to begin an important collaboration with SET towards the formation of a stock exchange in Myanmar. "This MOU provides us with a good opportunity to learn directly from SET's experiences, which will help expedite Myanmar's capital market establishment and its future growth. Capital market will serve as an important mechanism for fund raising to support Myanmar's growth and reform initiatives."
SET has formed alliances and established collaboration with exchanges in the Greater Mekong Subregion. In December 2012, SET renewed, for the second time, the MOU with Lao Securities Exchange.
Re-disseminated by The Asian Banker