Trading on Stock Exchange Opened-Up to Non-Locals
Foreign nationals and overseas entities – including locally-registered wholly foreign-owned enterprises as well as joint-ventures with local businesses – are to be permitted to buy shares on the Yangon Stock Exchange (YSX). Although the change has been approved by the country’s market regulator, the Securities and Exchange Commission of Myanmar (SECM), formal approval from the YSX is required before the proposal can move forward. The change is in line amendments to the Companies Law of 2017, which allow overseas investors to own a 35% stake in a Myanmar-registered business without prior government approval. Under the terms of the latest SECM…