Myanmar authorities have announced they will allow foreign ownership of shares listed on the Yangon Stock Exchange (YSX). According to an article in the Myanmar Times, a notice was issued on July 12 by the Securities and Exchange Commission of Myanmar (SECM). It was announced that foreign individuals and locally-registered foreign entities can invest in shares of up to 35 percent of a local company. The move comes after a new Companies Law was enacted in August 2018. The new framework allows foreign companies or individuals to hold up to a 35 percent stake in Myanmar companies without them losing the status of a local company with all its privileges and benefits. The YSX has moved slowly since first being incorporated in December 2014. There are currently five companies listed on the country’s only bourse.