Security exchange established in Myanmar

Tokyo Stock Exchange and Daiwa Securities Group are set to established security exchange with Myanmar’s central bank authorities as they are in search for foreign investors.

No exact information was divulged on this new development but a reliable source who knows something about the project said that the plan will commenced on 2015.

Because of the encouraging result of the election the reports of the stock exchange opened another wave of development for the country and many foreign businessmen displays interests and support the same cause and such could possibly result in the lifting of sanctions by the Western union, Reuters news reported.

With the memorandum to be signed by TSE and DIR, it will significantly mark an impressive and successful capital market in Myanmar. Although this is not considered as the country’s first venture with stock market, Daiwa has been a business associate in Myanmar Securities Exchange with only two listings since it was created in 1996.

China who is known as a long time supporter of Myanmar had asked the European countries and United States to lift all sanctions in the country. It has been decades that Myanmar has been under military junta but with the reforms instigated by President Thein Sein , the country has seen hope for improvement and progress and even highlighted by the success of the by- election with democratic leader Suu Kyi and the NLD sweeping seats in the parliament.

Mizuho Corporate Bank referred to as the second biggest bank in Japan revealed that last Friday it opened an office in Myanmar as it anticipated the influx of foreign investment, and also Lawson Inc., a chain of convenient stores in Japan is preparing to establish another store, the report said.

Japan’s biggest airline Nippon Airways Co. stated last Wednesday that it would continue servicing its regular flights to Myanmar after it stopped for 12 years.