Myanmar privatization move gets momentum
MYANMAR: Myanmar's privatization move has been getting momentum with
the Privatization Commission announcing auctioning of 110 more state
enterprises this year under its privatization plan laid down 15 years
ago.
The sale includes factories, warehouses and cinemas owned by 11
ministries and government departments.
These state enterprises to be sold out are scattered mainly in
Yangon, Mandalay, Ayeyawaddy and Bago divisions and Rakhine state.
Closing date for the auction is set for Feb. 26 this year.
In a bid to turn the state-owned enterprises into more effective ones
under its market-oriented economic policy, Myanmar introduced the
privatization plan in 1995 which has been implemented through auctioning
and leasing or establishing joint ventures with local and foreign
investors.
The privatization plan also covers those enterprises nationalized in
the 1960s.
The Myanmar authorities declared early this month privatization of
some port terminals' handling business, offering at least three port
terminals in Yangon for private enterprises to tender.
In addition, the Myanmar government planned to privatize all the
state-run gas stations in the country by March 31.
Meanwhile, the Fuel Importers and Distributors Association has been
formed to take over fuel trade formerly run by the state.
The move will pave way for free trade of petrol and diesel, putting
an end to a system of buying fuel with ration book under restricted
quota.
Moreover, the Myanmar government has awarded contracts to seven
private companies to upgrade a highway connecting the two biggest cities
of Yangon and Mandalay. Yangon, Friday, Xinhu |