Despite a trading downturn during the COVID-19 crisis, the Securities and Exchange Commission believes capital markets will make a swift recovery when the pandemic dies down. Speaking to the Bangkok Post, SEC commissioner U Htay Chun said his organization is continuing to develop new ways for local and foreign investors to trade stocks and bonds. He said that although COVID-19 has impacted trading, “it is fair to say that we are not hit as badly as some developed markets.”

The optimism comes despite stalled trading on the Yangon Stock Exchange amid a global economic downturn. In August 2019, the YSX reported its highest trade volume ever, and in March, the exchange gained its sixth company. In the same month, foreigners were finally allowed to make trades. However, due to a general exodus of expatriates returning home amid the pandemic, the trade volumes by foreigners has been extremely disappointing. Foreigners have only invested in three of the YSX’s six listed companies, and the total value of these trades is only around USD 128,000, the Bangkok Post reported. 

Nevertheless, Htay Chun is confident foreign interest in the Myanmar market will grow when the situation dies down. “Post pandemic, we expect to see three or four new main-board listings every year,” he told the Post. However, Daw Aung San Suu Kyi recently said that she expects Myanmar’s economy to get worse before it gets better. Outside Myanmar, many countries, including the United States, are still struggling to contain the spread of the coronavirus. When, exactly, things will return to normal, and foreigners feel comfortable investing in Myanmar, remains to be seen.