Myanmar to privatize 26 more state-owned enterprises

Myanmar will privatize 26 or more state-owned enterprises through auctioning, leasing or establishing joint ventures with local and foreign investors, local media quoted Ministry of Livestock and Fisheries as saying Tuesday. These enterprises are related to those of animal husbandry, dairy products and fishery owned by the Ministry of Livestock and Fisheries, said the Myanmar Post Global News, adding that the move will help turn the state-owned enterprises into more effective ones under its market-oriented economic policy. Of the 26 enterprises, six will be auctioned, 10 be leased and other 10 to operate under joint venture between foreign and local companies. Meanwhile, previous office buildings of some Myanmar ministries, left behind in Yangon after the administrative capital was moved to Nay Pyi Taw in late 2005, are also being privatized. These include ministries of foreign Affairs, energy, hotels and tourism, immigration and population, and commerce. Myanmar government's privatization scheme started in 1995.