Myanmar to auction some state-owned business undertakings in Yangon
Thursday, 5 March 2009
YANGON, Mar 4 (Xinhua): The Yangon municipal authorities of Myanmar will hold auction of rental options on some state-owned business undertakings and tender of some old- aged state-owned vehicles in the former capital in the second week of this month, according to the Yangon City Development Committee (YCDC) today.
The auction and tender will take place from March 11 to 12 and the business undertakings for rental options includes business service run in gardens, motor car maintenance service, restaurant service in Yangon City Golf Club and billboard erection service which is limited to advertising alcohol and those that do not keep with Myanmar traditions, the YCDC said.
In February last year, YCDC invited private companies to bid for advertisement on billboards at 10 locations in Yangon.
A total of 113 two-storey residential buildings in Yangon's three townships as well as the office building of the Association of Myanmar-Thai Cultural and Economic Cooperation opened in the famous Mya Yeik Nyo Hotel and 38 plots of land with a housing project some state-owned buildings and land plots in Yangon will be sold under the tender system.
In December last year, Myanmar also announced privatization of 36 more state-owned economic enterprises (SEEs) from four government ministries under a sealed tender system.
The 36 SEEs from the Ministry of Industry-1, Ministry of Commerce, Ministry of Livestock Breeding and Fisheries, and Ministry of Cooperatives mostly lie in Yangon and Mandalay.
The categories of the 34 SEEs of the two prior ministries to be privatized include ice factory, soft-drink factory, gas plant, match factory, blanket factory, packing paper factory, leather factory, rubber glove factory, paint factory, rice mill and bran oil factory, while the latter two ministries are to sell out two of its office buildings in Yangon and Mawlamyine respectively, earlier official report said.
Myanmar has been privatizing more and more state-owned enterprises for effective operation since 14 years ago.
According to a compiled statistics, a total of 254 state- owned enterprises out of 288 proposed from 10 ministries have been privatized in Myanmar as of the end of 2008 since the country began implementation of a plan of privatization in 1995.
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 Privatization Commission.
The plan is carried out by auctioning and leasing or establishing joint ventures with local and foreign investors.
The auction and tender will take place from March 11 to 12 and the business undertakings for rental options includes business service run in gardens, motor car maintenance service, restaurant service in Yangon City Golf Club and billboard erection service which is limited to advertising alcohol and those that do not keep with Myanmar traditions, the YCDC said.
In February last year, YCDC invited private companies to bid for advertisement on billboards at 10 locations in Yangon.
A total of 113 two-storey residential buildings in Yangon's three townships as well as the office building of the Association of Myanmar-Thai Cultural and Economic Cooperation opened in the famous Mya Yeik Nyo Hotel and 38 plots of land with a housing project some state-owned buildings and land plots in Yangon will be sold under the tender system.
In December last year, Myanmar also announced privatization of 36 more state-owned economic enterprises (SEEs) from four government ministries under a sealed tender system.
The 36 SEEs from the Ministry of Industry-1, Ministry of Commerce, Ministry of Livestock Breeding and Fisheries, and Ministry of Cooperatives mostly lie in Yangon and Mandalay.
The categories of the 34 SEEs of the two prior ministries to be privatized include ice factory, soft-drink factory, gas plant, match factory, blanket factory, packing paper factory, leather factory, rubber glove factory, paint factory, rice mill and bran oil factory, while the latter two ministries are to sell out two of its office buildings in Yangon and Mawlamyine respectively, earlier official report said.
Myanmar has been privatizing more and more state-owned enterprises for effective operation since 14 years ago.
According to a compiled statistics, a total of 254 state- owned enterprises out of 288 proposed from 10 ministries have been privatized in Myanmar as of the end of 2008 since the country began implementation of a plan of privatization in 1995.
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 Privatization Commission.
The plan is carried out by auctioning and leasing or establishing joint ventures with local and foreign investors.