Myanmar President Thein Sein has formed a nine-member anti-corruption team in his latest reform for the country's newly unshackled economy.

State media reported Wednesday that the Action Committee Against Corruption will be headed by one of the country's two vice presidents and will fight widespread corruption and implement clean government. Details of its powers were not given. Thein Sein established the body Tuesday.

The anti-corruption group Transparency International says Myanmar is perceived as one of the world's most corrupt countries, ranking 172nd out of 176. Business tycoons have entrenched themselves by cutting deals with the country's former military leaders, and privatization of state resources in the transition to a free market economy has opened up opportunities for graft.