Only 10pc of Myanmar's companies are running
Monday, 16 July 2007
YANGON, July 15 (AFP): Only 10 per cent of the companies registered in military-ruled Myanmar are actually operating, the acting prime minister said today.
"Although 40,000 companies were registered in the country, the number of companies that are really operating is just 4,000," Lieutenant General Thein Sein said in the official New Light of Myanmar newspaper.
Most of the companies that are operating have little capital and weak access to foreign markets, he added.
Outside the main cities of Yangon and Mandalay, most provinces have only one or two registered businesses, he said.
Myanmar's economy has been driven into the ground under decades of mismanagement by successive military regimes.
"Although 40,000 companies were registered in the country, the number of companies that are really operating is just 4,000," Lieutenant General Thein Sein said in the official New Light of Myanmar newspaper.
Most of the companies that are operating have little capital and weak access to foreign markets, he added.
Outside the main cities of Yangon and Mandalay, most provinces have only one or two registered businesses, he said.
Myanmar's economy has been driven into the ground under decades of mismanagement by successive military regimes.