Foreign joint venture companies will be able to invest in the Yangon Stock Exchange when an update of the Myanmar Company Law is finished : Myanmar's Deputy Minister for Finance

Foreign joint venture companies will be able to invest in the Yangon Stock Exchange when an update of the Myanmar Company Law is finished, said Dr Maung Maung Thein, deputy minister for finance.

“We can’t allow this currently, but we have a plan to allow JV companies [to invest] after updating the Myanmar Company Law,” said Dr Maung Maung Thein.

According to the current Myanmar Company Law, even one percent of foreign investment in a company classifies the company as a JV.

Under the YSX criteria, if a person was punished by law, he cannot work as a director of a company. This ban includes a person who was punished for political reasons. However, these types of stock’s company criteria will be changed, Dr Maung Maung Thein added.

Yangon Stock Market hopes to launch after November's general election after being delayed from October.

The names of companies that will be allowed to trade will be announced within this month. Five public companies which meet the criteria will be selected at first.

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