The securities exchange is expected to go live by 2015, with a memorandum of understanding about the establishment of the bourse to be signed by mid-May, according to various media outlets including the BBC.
News of the exchange follows historic by-elections on April 1 which saw Nobel Peace Prize laureate Aung San Suu Kyi and her opposition party secure landslide victories.The political backdrop means that Burma could attract more foreign investors after decades of strict military rule.
The European Union, United States and Canada are among those looking to relax sanctions on Burma following its political reforms.
Burma does already have an exchange as the Myanmar Securities Exchange in the capital city of Yangon was established in 1996. But it has had limited success because only two stocks are listed on it: Forest Products Joint Venture Corpand Myanmar Citizens Bank, both of which are jointly owned by the government and private investors.
