Feb 16, 2013

Privatization of state-owned enterprises

Some state-owned enterprises will be changed into corporation and some into private sector with the aim of boosting the private sector, according to a presidential strategy outlined in the basic principle of economic and social reform.

The basic principle stated that the government needs to create a suitable environment for the private sector in the reform process. The government-owned enterprises need to be changed into corporation and some into private sector.

As a result, the government is now planning to transform Myanmar Posts and Telecommunications into a corporation.

The government has allowed the Ministry of Transport to hand over its enterprises such Myanmar Shipyard as Myanmar Airways, Myanmar Port Authority and Inland Water Transport to the private sector.
The basic principles for economic and social reforms have been adopted in accord with the guidance of the President, targeting to meet with short-term and long-term objectives.

Source: Eleven Media Group