Myanmar is aiming to publish a Corporate Governance Code, said U Aung Naing Oo, permanent secretary of Ministry of Investment and Foreign Economic Relation.

In a bid to improve corporate governance and transparency in Myanmar, the government is planning to introduce a Corporate Governance Code (CGC) by 2020.  Once implemented, the CGC is expected to boost investor confidence and draw more foreign direct investment (FDI) into the country.  A draft report on the code by the Directorate of Investment and Company Administration (DICA), Securities and Exchange Commission of Myanmar (SECM) and Organisation for Economic Co-operative and Development (OECD) is expected to be ready this year.

Currently, the corporate governance structure in Myanmar is still relatively undeveloped, but reinforcements are on the way.  The Myanmar Institute of Directors, for example, has set benchmarks for corporate governance practices among Myanmar companies and aims to support corporate boards of directors in achieving loftier standards of transparency.

Source:
Myanmar Times