Junta takes steps to resume suspended state-owned enterprises

0
128

Nay Pyi Taw, 20 October

Junta chief, Min Aung Hlaing, stated that the government-owned enterprises that were shut down should be able to reopen and that the acquired land should be used effectively.

The junta chief, who declared himself prime minister of Myanmar, made these remarks at the military council’s Economic Committee Meeting on October 18.

The military leader claimed that the suspension of some of the businesses that were being carried out by the ministries during the previous administration caused burdens for the state.

He added that the military council reoperated with appropriate factories and enterprises, and capable factories and organizations need to manage operations for halted enterprises.

According to political analyst U Than Soe Naing, “the military leader is creating state-owned enterprises in the Chinese style, portraying himself as promoting enterprises at a time when the country’s economy is in decline.”

U Than Soe Naing pointed out that after the military coup, both government-owned and private-owned businesses have been greatly declining, and foreign investments have left one by one. After the military coup, both government-owned and private-owned enterprises have declined significantly, and foreign investments have left one by one, leaving nothing behind.

On the other hand, even in Yangon, the highly crowded commercial hub where power is supplied by a rotating system, the capacity of government and private firms is falling, and it will be difficult for the junta to fix this, he noted.

The military leader said that it is necessary to manufacture the products needed by the country, and the government and private sectors need to start implementing them.

Among the state-owned enterprises are Electric Power Generation Enterprise, Inland Water Transport, Myanmar Railways, Road Transport, Myanmar Telecommunications, No. 1 to No. 3 heavy industries, and Myanmar National Airlines.

Furthermore, state-owned enterprises that have provided the military council with significant foreign money since the military coup include Myanma Oil and Gas Enterprise, Mining, and Myanma Gems Enterprise.

The European Union sanctioned No. 2 Mining Enterprise under the Ministry of Natural Resources and Environmental Conservation on the third week of July 2023.

News – Than Lwin Times

Photo: MOI

LEAVE A REPLY

Please enter your comment!
Please enter your name here