Source:
Xinhua
YANGON, Sept. 14 (Xinhua)
-- Myanmar government has handed over nine state-owned factories to
private enterprises under long-term lease system, aiming to producing
more marketable and profitable products in the country, a local weekly
reported Wednesday.
The factories under the Ministries of
Industry-1 and -2 include two soft-drink factories, two sugar mills, two
garment factories, packing factory, paper factory and umbrella factory,
said the Phi Myanmar.
According to official figures, there
were 106 factories and 57 branch factories totaling 163 under the
Ministry of Industry-1. Among them, 22 factories and 30 branch factories
deal with foodstuff.
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 covering those
enterprises nationalized in the 1960s was introduced in a bid to
systematically turn them into more effective enterprises, according to
the government- formed Privatization Commission.
In June 2007, the government formed
another committee for auctioning some state-owned buildings remained in
the former capital of Yangon after the administration was moved to the
new capital of Nay Phi Taw in 2005.
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