YSX has higher potential than Laos and Cambodia: Chairman

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Vice president U Henry Van Thio and dignitaries formally open Myanmar e-Government Conference and ICT Exhibition Nay Pyi Taw-2016.
People seen outside the Yangon Stock Exchange in Yangon.
People seen outside the Yangon Stock Exchange in Yangon.

THE Yangon Stock Exchange has better potential than its counterparts in Laos and Cambodia but there is still more to do for tax incentives and deregulation, Chairman of Yangon Stock Exchange U Maung Maung Win said in his speech at the coordination meeting on the development of the Myanmar capital market and Yangon Stock Exchange on 30 September.
The meeting discussed a wide range of issues including short, mid and long term plans for the YSX, service charges of the YSX, impacts of online share-trading, taxes on share trading and allowing foreign investors to participate in the stock market.
At the meeting, the deputy minister and chairman told the participants that stock market development could contribute to economic growth of the country and its development could lead to the development of a capital market in Myanmar.
Mr Akira Kurita, one of the consultants from the Financial Service Agency, Japan, who is working for the YSX, also pointed out the need to supervise initial public offerings, reference prices of shares and ways and means to facilitate the process to list at the YSX.
Participants also discussed attracting institutional investors, foreign investors and tax barriers.
The meeting concluded with remarks by the deputy minister and chairman of the YSX.

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