Aug 17, 2012

Japan to help Myanmar develop capital market

The Finance Ministry said Wednesday that it has signed a memorandum of understanding with Myanmar's central bank to support the development of the capital market in the Southeast Asian country.

Japan will help Myanmar draw up a securities exchange law to ensure fair transactions of stocks and bonds, and protect investors.

A group of Japanese securities experts and lawyers will provide advice to develop human resources in Myanmar. Japan will also accept trainees from the country.

The move comes after Prime Minister Yoshihiko Noda announced in April that Tokyo will resume yen loans to Myanmar for the first time in 25 years due to progress in the country's democratization.

Japanese companies are eager to expand into Myanmar, which is sometimes called Asia's last economic frontier.

Source: Daily Yomiuri Online